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Tax and Accountancy

Reducing CGT by getting married

Reducing CGT by getting married

11/04/2014

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

24/02/2014

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?

05/02/2014

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

09/01/2014

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

19/12/2013

It’s that time of year when landlords are thinking about their tax returns which must be filed by 31st January. Most people leave things until the last minute. 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… Read more

Can I claim tax relief on equity release remortgage interest

Can I claim tax relief on remortgage interest?

16/12/2013

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

11/12/2013

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

Cutting Taxes

Capital Gains Tax Mitigation Question

19/11/2013

One of our properties becomes vacant next month and I am very tempted to sell it. It has at least £50k equity in it and would nicely fund some opportunities in 2014 without affect our cash flow too much. The property is just in my name. If I put it in joint names with my… Read more

What accountancy software do landlords use

What accountancy software do landlords use?

07/11/2013

Hi all, I’m fairly new to property investing and brand new to this site. Thanks Property Geek, Rob Dix, for your podcast on Mark Alexander that pointed me here. Quick question; what accountancy software does this community recommend?  I currently only have three properties, but plan to scale to a lot more. I use spreadsheets… Read more

Tax Treatment of Equity Loans for Buy to Let Landlords

Tax Treatment of Equity Loans for Buy to Let Landlords

04/11/2013

I have been posting on numerous forums about the introduction of equity loans into the UK buy to let mortgage market, a common question is the tax treatment. Equity loans do not attract interest in the normal way, there are no regular monthly payments. One UK lender, funded by USA equity house JC Flower &… Read more

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