Lettings relief is a potentially valuable relief that is available to those who let out a property which has at some point been their only or main residence. However, the opportunity to benefit from the relief in its current form may be time limited – the Chancellor announced at the time of the 2018 Budget […]
First-time buyers are able to benefit from Stamp Duty Land Tax (SDLT) relief when they buy their first home – but only if the property that they are buying does not cost more than £500,000. It was announced in the 2018 Budget that the relief would be extended retrospectively to first-time buyers buying their first […]
Filing a Self-Assessment Tax Return can be a long winded process. It can also be a daunting procedure for many people. If you make a mistake or submit the form late, HMRC will issue a penalty of £100 against you. UK taxpayers have an obligation to disclose taxable income to HMRC on an annual basis. […]
If you are wondering that you can claim expense of a new counter-tops, you had installed in your rental home or the cup of coffee you bought for your tenant against rental income of a property? This guide lists most of allowable expenses and will help you calculate your rental income. How to Calculate Taxable […]
Earning income from renting out a property has become very popular over the last couple of decades, especially with those who have money to spare. Despite increases in stamp duty over the last couple of years, it remains a good investment opportunity. Not only do you get the value of the property when you come […]
There are few areas of tax that are as surrounded by myths, misconceptions, and misunderstandings as capital gains tax. In this blog, we provide a crystal clear overview of the most vital fundamentals to get to grips with (all in straightforward English). A simple definition of capital gains tax Let’s start at the beginning with […]
How to make a Complaint to HMRC If a taxpayer feels that HMRC has made mistakes, treated them unfairly, or they have been subject to...
Capital Gains Tax – Making Sense of It All There are few areas of tax that are as surrounded by myths, misconceptions, and misunderstandings as...