UK residents can ask for publicly owned land and buildings to be sold if they think that the property is vacant or underused. You will need to track down the owner of the land and ask for the property to be sold. Your application…
Day: August 1, 2018
When is Capital Gains Tax payable?
Notwithstanding any of the comments that follow, an individual is allowed to make tax-free capital gains of £11,700 during 2018-19. There are also a number of circumstances when a disposal does not create a taxable gain. These include: The sale of personal assets worth…
Changes to rent-a-room relief
A new test is to be added to the qualifying criteria for rent-a-room relief from April 2019. The test will require that the individual or individuals in receipt of income – the home owner(s) – will need to share occupancy of the residence in…
Points based penalties
In the recently published draft clauses that will form the basis of the Budget later this year, HMRC has outlined a significant change to the way they will be levying penalties for late filing breaches under the Making Tax Digital regulations. Rather than base…