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Tax & Accountancy

Does buying BTL through a limited company make more sense for me

Does buying BTL through a limited company make more sense for me?


For my main job (nothing to do with property) I work through my own limited company, taking around £8k in wages per year and £30k in dividends. This is just enough to keep me out of the higher tax bracket. Over a few years this has left me with enough money sitting in my company’s… Read more

Stamp Duty Calculator

Stamp Duty Calculator


Whilst the rest of the media have been reporting on the pros & cons of Chancellor George Osbourne’s Stamp Duty Land Tax reforms, here at Property118 we have been busy producing a calculator which makes it very easy to work out how much stamp duty you will need to pay. Why not test it for… Read more

Tax Implications and Penalties

Tax Implications and Penalties


What view would HMRC take if a landlord overestimated his property rental return by say, £6,000 due to error/illness/stress?  Can the landlord request mitigation (illness) against his mistake? Thanks AA Properties (Wales)

Reducing CGT by getting married

Reducing CGT by getting married


Hi there, I have a B2L property that I bought 9 years ago for £250k and I’ve rented it out from day one. I have never lived there so I cant claim PPR or lettings relief.  I’ve now got a buyer for the property at £325k so even after I deduct £10k buying and selling… Read more

Sharing The Wealth - Minimising CGT and IHT

Sharing The Wealth – Minimising CGT and IHT


I am exploring ways to share the wealth and minimise CGT and IHT I hold a profitable portfolio of some 18 investment properties…  More than half were purchased in 1997. Most have appreciated in capital value.  The rental stream gives a net profit in excess of £75,000 pa About two years ago I purchased a… Read more

Avoid CGT by adding spouse to deeds

Avoid CGT by adding spouse to deeds?


My wife and I jointly own several BTL properties, but one is owned solely in her name in order to maximise tax relief by using her basic rate unearned income tax allowance. We are proposing to sell one of our properties and my question is regarding changing ownership of the property which is in her… Read more

Claiming VAT back and saving CGT on Conversion

Claiming VAT back and saving CGT on Conversion


I am in a predicament and my accountant is confusing me even more. My husband and I have jointly owned a commercial property over 10 years of which ground floor has been let to retail business. The whole of the building is Vatable and we charge vat on the rent to the retail tenant. The… Read more

Landlords Tax Returns - 10 Common Mistakes

Landlords Tax Returns – 10 Common Mistakes


In this article I am going to share the common mistakes that landlords make when completing their tax returns. In no particular order and certainly not a definitive list:-  1) Treating the entire mortgage payment as an expense. You should only claim mortgage interest as an expense. If you have a repayment mortgage this is… Read more

Can I claim tax relief on equity release remortgage interest

Can I claim tax relief on remortgage interest?


I’m looking for some clarity on taking equity out of a BTL Property, and whether the interest on the loans is tax deductible. If I have a property with little or no mortgage and I’m in the process of re-mortgage it,  taking say £50,000.  Can I use this cash to buy a fast car and… Read more

Accidental landlords

Accidental landlords advised to consider selling BEFORE April 2014


Accidental landlords looking to sell and take advantage of tax breaks on former main residences are being advised of the importance of doing so before April 2014. The Chancellor George Osborne confirmed in his Autumn Statement that Capital Gains Tax relief on former homes will be halved from 36 to 18 months when the new… Read more

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