You can claim up to £1,000 each tax year in tax-free allowances for property or trading income. If you have both types of income, you will qualify for a £1,000 allowance for each. If your annual gross property income is £1,000 or less, from one…
Category: Property Income
Property tax changes from April 2020
Although the Brexit process continues to throw a spanner into the normal workings of government, there are a few certainties from a tax point of view that will be effective from April 2020. A few property-related changes are noted in this article: Presently, the…
Do you own a holiday let property?
There are a number of tax incentives that you can take advantage of if you own and let a Furnished Holiday Lets property (FHL). They include: you can claim Capital Gains Tax reliefs for traders (Business Asset Rollover Relief, Entrepreneurs’ Relief, relief for gifts…