First published 27th March 2017; Updated 15th November 2018 / April 2023 Residential property owned by a company is potentially subject to Annual Tax on Enveloped Dwellings where the value on the valuation dates is more than £500,000 Relief from Annual Tax on Enveloped Dwellings (ATED) may be available if the use of the property […]
Category: Letting
Finance cost relief
Restricting finance cost relief for individual landlords, S24 restriction on mortgage interest: how do I claim mortgage interest on my tax return? Published 17th February 2020; Updated September 2021 Still puzzled by the S24 restriction or finance cost relief? See the easy-to-read full explanation From 2020 the tax relief that landlords of residential properties get […]
Can your house be stolen?
Published 6th October 2012; Updated 29th November 2018 / April 2021 The quick answer is YES! Here is a true horror story of how a teacher in Hove had his house stolen. In 1998 Mr Hawthorn decided to take a sabbatical from his job as a science teacher in Sussex. He rented out his home in […]
Property Income Allowance
The £1,000 Property Income Allowance deduction: is it worth it? The Property Income Allowance is available from April 2017 and is an allowance of £1,000 that may be used instead of the normal or usual method of calculating deductions from rents, etc. It will only be of benefit to those with very low outgoings. Published […]
Who you should tell about your UK income
If you are a non-resident landlord, the way you are taxed will depend on the Tax Treaty between the UK and the country in which you reside. If you have income arising in a country of which you are neither resident nor a citizen, that country will have the first right to tax that income. […]