SDLT on second homes

Stamp Duty Land Tax (SDLT) is payable on the purchase of residential property in increasing portions of the property price above £125,000. Current rates of SDLT on individual and additional properties are as follows: Purchase price up to £125,000 – SDLT rate...

Rent a room scheme

Although Budget 2017 announced that the Government intends to review the rent-a-room scheme, it currently remains a tax-efficient way of letting out a spare room. Broadly, HMRC’s rent-a-room scheme is an optional exemption scheme, which allows individuals to...

ATED – New Property Tax

The annual tax on enveloped dwellings (ATED) came into effect on 1 April 2013. This new property tax applies to residential properties in the UK worth over £2 million, which are owned by a non-natural person, such as a company, trust or partnership that includes a...
Capital Gains Tax On Property Which Has Been Your Home

Capital Gains Tax On Property Which Has Been Your Home

An individual is normally exempt from capital gains tax on property sold which was the individual’s home, with neither a taxable gain or loss arising. This is certainly the case where it has been the individual’s only or main residence throughout the...

Property Letting Business Tax Reliefs

Newsletter issue – June 2013. Sign up to receive the monthly tax news and tips. The tax treatment of property letting businesses is not consistent across all taxes and tax reliefs. It’s not logical, but just because a property letting business qualifies...