Property Tax Insider Contents of Last Seven Issues
Post on: 16 Март, 2015 No Comment
Property Tax Insider — Contents of Last Seven Issues
Special Property Tax Insider Offer — Be one of the first 75 customers and you will receive the entire back catalogue of magazines. This means you all get all the magazines from September 2010 right through to March 2011 (seven issues) for FREE!
Here is what tax busting strategies, secrets and tips are covered in the back issues.
MARCH 2011
- Watch out for HMRCs New Crackdown on Abuse of Private Residence Exemption!
Have you used (or considered using) the Principal Private Residence (PPR) exemption on several properties in quick succession? HMRCs crackdown on the perceived abuse of the PPR exemption could mean a knock at the door.
There are various circumstances in which a trade or profession may receive rental income. This may arise from letting out surplus parts of the business trading premises or from letting or sub-letting a separate property for which there is no longer a business use.
Even in todays volatile economic climate, a growing number of people are choosing not to invest in stocks and shares but are investing in property instead. But just as the value of stocks and shares can go up and down, a property investor may also make a profit from renting a property one year and a loss the next.
Stamp Duty Land Tax (SDLT) was introduced by the 2003 Finance Act. One might have hoped that as SDLT was a new tax, it would be much clearer than the dusty old Stamp Duty. Unfortunately, despite having a clean slate to start with, the result is an unholy mess.
FEBRUARY 2011
- Watch out for HMRCs New Crackdown on Abuse of Private Residence Exemption!
Have you used (or considered using) the Principal Private Residence (PPR) exemption on several properties in quick succession? HMRCs crackdown on the perceived abuse of the PPR exemption could mean a knock at the door.
There are various circumstances in which a trade or profession may receive rental income. This may arise from letting out surplus parts of the business trading premises or from letting or sub-letting a separate property for which there is no longer a business use.
Even in todays volatile economic climate, a growing number of people are choosing not to invest in stocks and shares but are investing in property instead. But just as the value of stocks and shares can go up and down, a property investor may also make a profit from renting a property one year and a loss the next.
Stamp Duty Land Tax (SDLT) was introduced by the 2003 Finance Act. One might have hoped that as SDLT was a new tax, it would be much clearer than the dusty old Stamp Duty. Unfortunately, despite having a clean slate to start with, the result is an unholy mess.
JANUARY 2011
- How to Jointly Own a Property 50:50 but Split Rental Income 90:10!
A recent article in the Times stated that 53% of parents plan to financially support their offspring through university. Many will fund via savings, however, there is an alternative method of finance that should be considered.
Income from land and property is taxable and landlords must pay tax on the profits of a property rental business. In order to calculate the tax liability correctly, and to avoid problems with the taxman, full and accurate records need to be kept.
In this third instalment on tax principles for capital against revenue expenditure, we take things one step further and look at additional expenses that can be offset as repairs.
If you use your car for the purposes of your property business, you can claim an appropriate amount of the running costs as a business expense, but what can be claimed and how is a claim made?
DECEMBER 2010
- Dont Forget About These When Ending Your Property Rental Business.
The end of a property rentals business can be a tricky affair but with the right knowledge and preparation you can ensure that you benefit from all of the reliefs available.
Gifting or transferring part of a property has become a good tax planning strategy for property investors. However failing to understand Stamp Duty can lead to nasty tax surprise.
In the current financial climate people are inevitably looking for ways to increase their household income. Many are doing this by renting out a spare bedroom and getting an additional tax free income.
Are you a residential property developer? Why not consider voluntarily registering for VAT to benefit from the little known 5% reduced rate.
NOVEMBER 2010
- The Secret is (Finally) Out on Main Residence Relief!
How long do you need to live in a property before you can claim main residence relief? Well, finally a recent Tax Tribunal case has at last thrown some light on this tricky question.
The first thing you think when you get a tax bill is What could I have done to minimise it? Well here is how to record all expenditures so they can be claimed to reduce any CGT bill by thousands!
This is the second in a series of articles designed to introduce readers to a fundamental aspect of property business taxation whether expenditure qualifies for tax relief against income as a revenue deduction.
Do you have a booming overseas property business but are not sure how to account for the income that you receive? The tax rules are predominantly similar to those applied to managing rental properties here in the UK but with a few new ones to keep you on your toes!
OCTOBER 2010
- How to ‘Flip’ Properties and Avoid CGT (the Smart Way)!
Flipping, or nominating, one of your properties to be your principle private residence (PPR) is a great way to gain maximum tax relief. However, there are rules that you should be aware of in order to flip successfully.
WMoving abroad is as popular as ever and by using Qualifying Recognised Overseas Pension Schemes (QROPS) expatriates are also able to benefit from moving their pension.
Whilst purchasing a but-to-let property comes with many rewards, beware the potential pitfalls and problems that can arise without sound tax planning! This article exmpalins the problems to look out for!
If you are struggling to decide whether to let your property furnished or unfurnished, consider the benefit of the 10% wear and tear allowance, it may help you to decide.
- Pay Less Tax by Claiming More Business Expenses!
One of the biggest bugbears for landlords is that HM Revenue and Customs don’t provide a list of what expenses can be claimed. However here are some tips to make sure that you’re getting maximum relief.
With interest rates at rock bottom many landlords are seeing much higher tax bills. However, here are some tips on how to get further tax reductions.
The first in a series of articles revealing how you can distinguish between ‘Capital V Revenue’ expenditure and make the right claims to knock s off your tax bills!
The proposed changes to the tax treatment of furnished holiday lets for 2011 have now been revealed but will we be winners or losers under the new Governments plans.
