Move back into a former home prior to sale to maximise PRR
Where a property has at some point been used as a main residence, certain periods of absence are, in some cases, treated as periods of …
Property Ownership: What Matters and Why
Under English property law, property ownership can be held jointly as joint tenants or tenants in common. The method of ownership can affect tax implications …
Selling House vs. Garden: Why Order Matters
Selling a residence and part of the garden or land separately may be desirable in certain circumstances. Where this is on the cards, it is …
Start of a property rental business
A property rental business will have a start date, and it is important to know when this is. A landlord will normally undertake some preparatory …
Using a property company for FHL
The current tax regime for furnished holiday lettings (FHL) has several advantages, including the ability to deduct interest and finance costs in full when calculating …
UK tax treatment of rent from overseas properties
A person who is resident and domiciled in the UK is liable to UK tax on rent from overseas properties. Consequently, if they have overseas …
Utilising loss from property rental business
Where a landlord makes a loss on their property rental business, the options for using that loss are limited. The rules depend on whether the …
End of the FHL regime and transitional rules
Landlords with furnished holiday lettings (FHLs) currently enjoy favourable tax advantages compared to those letting residential property on longer-term lets. However, these advantages are to …
Treating tenants’ deposits correctly for tax purposes
It is usual for a landlord to require a deposit from a tenant as security against damage to the property. This cannot be more than …
Beware of the lifetime limit when claiming BADR on the sale of the FHL
Landlords with furnished holiday lettings (FHLs) are living in uncertain times. At the time of the 2024 Spring Budget, it was announced that the favourable …
Claiming a deduction for the expenses of a property business
Expenses will be incurred in running a property business. To ensure that tax is not paid unnecessarily, it is important that all allowable expenses are …
A repair or an improvement and why it matters
As a landlord, periodically you will need to undertake work on your property. This may simply involve fixing a leaky tap or redecorating, or the …
