Clever Chancellor George Osborne is masking landlord tax increases with smoke and mirror financial tricks that make income tax bills look better than they really are.
Many believe they are better off this year and next after all the talk about big increases in the personal allowance that lifts the poorly paid out of the tax system and lets everyone else earn more before they start contributing to the Government’s coffers. Continue reading By George! The feel-good tax giveaway is really a con
Keeping accounts for a buy to let business could be a lot simpler if the Government adopts cash accounting for small businesses.
Chancellor George Osborne announced in Budget 2012 that he was launching consultation on a dispensation that will let small businesses turning over less than £77,000 switch to a simpler way of calculating profits. Continue reading Budget plan to make accounting easier for landlords
Chancellor George Osborne’s Budget 2012 was a chance missed for reforming property tax, says the industry.
Many are also breathing a sigh of relief that stamp duty reforms have glossed over commercial property.
The anomaly in the market is a £2 million house owner pays draconian duty starting at 7% for personal ownership and stepping up to 15% for offshore corporate ownership. Continue reading Budget 2012 missed a chance for property tax reform
Following George Osbourne’s Budget announcement, NAEA have offered a damning response as Wendy Evans-Scott, President of the National Association of Estate Agents (NAEA) labelled it a failure and a missed opportunity.
“Not only has the Chancellor failed to offer any real help to lower and middle income homeowners and First Time Buyers, but from Saturday, the Stamp Duty Holiday for FTBs will be coming to an end.
Continue reading NAEA Unhappy with Budget Announcement
Budget 2012 for property people
Property investors are winners and losers in Chancellor George Osborne’s Budget 2012.
Landlords paying tax on rents are likely winners as they will benefit from Osborne hoisting personal allowances for income tax nearer the £10,000 target.
While top-end of the market investors dealing in buying and selling the most expensive homes are the focus of big increases in stamp duty. Continue reading Budget 2012 and how it affects landlords and property investors