The property sector has always attracted Government interest as a source of taxes. This means landlords often have to navigate rule changes and new deadlines. In this article Shipleys LLP Tax Principal, Mike Luckett, gives a roundup of recent developments.
The article covers:
- Lettings relief changes
- Income tax relief on residential property lets mortgage interest
- Capital Gains Tax (CGT)
- Corporation Tax rise on the horizon
- VAT
- Revenue and non-revenue expenses in relation to Capital Gains Tax relief
Read the article on the Chestertons’ website:
Keeping Current With The Latest Tax Changes
Can we help?
Our team of property specialists have a long track record of helping landlords of both residential and commercial property.
We are often asked to help with special projects such as tax planning (including SDLT and VAT), and in the current climate debt and business restructuring, as well as the routine compliance.
Tax planning for those in the sector covers a huge variety of areas and examples include the principal private residence exemption, trading vs. investment, the availability of entrepreneurs’ relief, partnerships and succession, inheritance tax, SDLT mitigation, capital gains for groups of companies and capital allowances.
If we can help with any property-related tax question, please do get in touch.
Thank you to our friends at Chestertons for the opportunity to contribute to their newsletter.
Specific advice should be obtained before taking action, or refraining from taking action, in relation to this summary.
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Related Resources
New tax on residential property developments now in force
Tax payment changes on property sales
