CORONAVIRUS - FURNISHED HOLIDAY LETTINGS - 25.06.2020
Preserving FHL status during lockdown
One of your clients lets several holiday lodges. They are approaching retirement, and are considering selling the properties in the next few years. How could coronavirus cause a nasty tax trap, and how can you help them?
STAMP DUTY LAND TAX - 22.06.2020
More time to claim SDLT refunds
Additional SDLT. The additional stamp duty land tax (SDLT) rate of 3% is payable by purchasers of second or subsequent dwellings, e.g. a second home. It applies even where the second property is the buyer’s new home and they intend to sell the other property. There are similar charges for the equivalent taxes in Scotland and Wales. ...
PROPERTY - 28.05.2020
How not to lose the tax breaks on holiday homes
The prospects of you letting your holiday home are looking glum this season. As a result, it might cease to qualify as a furnished holiday let and so lose the corresponding tax advantages. What steps can you take prevent this?
CAPITAL GAINS - 28.05.2020
Downsizing your business premises - defer your tax bill
Our subscriber’s business no longer needs such a big premises so he wants to downsize. Despite current market conditions, he expects to get more for the property than he paid for it. Can he avoid a tax bill on the capital gain?
CAPITAL ALLOWANCES - 21.05.2020
Debunking clients’ preconceptions can lead to CAs savings
You believe a new client has substantial unclaimed capital allowances in respect of commercial premises. The client is convinced that these can’t be claimed due to previous poor advice and preconceptions. How can you help?
CORONAVIRUS - PROPERTY LOSSES - 13.05.2020
Tax relief for property rental losses
The financial side effects of coronavirus on your tenants may result in the costs of your rental business outweighing the rents you receive. What are your options for claiming tax relief for the losses?