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Rebuild your pension pot with rental income
Rent paid to a SIPP does not count towards the annual allowance or MPAA. Read this article to find out how this can help you rebuild your pension pot after making withdrawals having reached age 55.
Different lets, different tax rules
Find out about the differences in the way traditional residential lets and holiday lets are taxed. #FHL #propertytax
Taxation of Buy to Let Properties
The income is treated as the profits of a Property Income Business. If the owner of the property is an individual or a trust the profits are charged to income tax for the tax year to 5th April. If the owner is a company the profits are charged to corporation tax for the accounting period of the company.
Buying a property to let – the importance of keeping records from day one
For tax purposes, good record keeping is essential. Without complete and accurate records, it will not be possible to provide correct details of taxable income or to benefit from allowable deductions. Aside from the risk of paying more tax than is necessary, landlords who fail to take their record keeping obligations seriously may also find that they are on the receiving end of a penalty from HMRC.
Using a Limited Company to Save Property Tax
The analysis of whether it is beneficial for a property investor to use a limited company can be complex and this helpsheet aims to identify some of the key advantages in considering a limited company for this purpose.