Category Archives: Property

Residential Finance Costs

rent finance

Back in July 2015 the then Chancellor, George Osborne, announced a change to the way that tax relief for finance charges, in particular loan and mortgage interest, would be given against residential property rents. Rather than reducing the net profit of the residential property business, any tax due would be […]

VAT Reverse Charge for construction – overview

VAT reverse charge

Big changes are coming to the way in which VAT is administered to the construction industry. From 1 March 2021 the CIS VAT Domestic Reverse Charge Measure will apply to supplies of construction work. Proposals: When the reverse charge applies the customer must account for the supplier’s output VAT This […]

Spanish homeowners – changes to EU tax liabilities

tax in spain

For tax professionals, the idea of escaping to some Spanish sun in January is a pipe dream, even in non-Covid times, as we grapple with the personal tax return submission deadline.   And with Spain on the brain, we are advising clients to be aware of changes to EU tax […]

HMRC’s Property Disposal Service

property tax

Have you recently sold a residential property in the UK?  If so, it is important you understand new tax rules, which might mean you need to report and pay Capital Gains Tax within 30 days.    Over recent weeks COVID-19 has dominated the headlines and any new tax developments have […]

Landlords and Tenants – COVID-19 summary

advice for landlords

Our tax director Martin Wardle gives his summary of the official guidance that has been released for landlords and tenants as well as a local spin on current matters as a result of Covid-19 from Bruce Haagensen of North East Landlords on it’s effects on licensing and students. Watch our YouTube video […]

COVID-19 Business Property Rates Relief and Grant Eligibility

business rate relief

As always we endeavour to keep you updated with the latest Government announcements on COVID-19 and how this effects you and your business. The document below lists the properties which will qualify for the 100% relief from Business Rates for 2020/21. Businesses in these sectors will also qualify for the £25,000 grant […]

Landlords, get ready……….

  As you may know, HMRC launched a let property campaign (LPC), earlier this year, to encourage buy-to-let landlords to disclose undeclared rental income. We understand that HMRC has now started to send letters to some 30,000 individual property owners where HMRC hold evidence suggesting those property owners have undeclared rental income. In terms of the […]