Landlords
Landlords beware! With the new tax changes, this is now a very complex area that all landlords need to address.
There was a time when owning and taxing property income was very straight forward, however Landlords have been under attack by HMRC for some years now, with decreasing allowances and increasing taxes.
There is now a minefield of matters to consider.
Holding property in either your personal name or a Company can have major ongoing tax effects so making the right decision at the start is vital. The answer is not always the same for everyone, which is why all our advice is tailored to your personal needs, taking into account your other interests.
Not declared your property income? - We can help guide you through the Governments' Let Property Campaign before they come to you.
Sold a second property? Under new rules a Capital Gains Tax return and the tax must be paid over within 60 days of the sale.
Landlords also fall under the new Tax Digital for ITSA regime coming 25/26 which will majorly impact the way you operate your business.