Major repairs to a let property – What is deductible?
The nature of buildings is such that it may be necessary to undertake significant repairs, such as the replacement of the roof, or even underpinning …
Passing on the farmhouse – Implications of the changes to APR and BPR
Currently, there is no limit on the amount of qualifying agricultural and business property that can benefit from the 100% rates of agricultural property relief …
Tax implications of letting a room in your home
As the cost of living rises, you may consider letting a room in your home to bring in some much-needed additional income. This can be …
Using former FHL losses
From 6 April 2025, furnished holiday lets are treated in the same way as other lets for tax purposes. Landlords letting both holiday accommodation and …
Holiday lets and business rates
Although the end of the tax regime for furnished holiday lettings relieved landlords of the need to keep track of the number of days for …
Earn tax-free income from renting out your garage
There is a demand for garage space, particularly from tradespeople who want somewhere to store their tools safely rather than leaving them in their van …
Take advantage of the property rental toolkit
HMRC publish a property rental toolkit which can be used to avoid making common errors when reporting income from property on the Self-Assessment tax return. …
Tax implications of failing to pay rent on a property held in a SIPP
Using a Self Invested Personal Pension (SIPP) to hold commercial property which can be rented to your personal or family company can be beneficial. Instead …
Relief for post-letting expenses
All good things come to an end, and a property rental business is no exception. However, expenses may be incurred in relation to that property …
UK and overseas property businesses
Profits arising from land or property are treated as arising from a property business. For tax purposes, profits from land and property in the UK …
Jointly owned holiday lets – Should you make a Form 17 election?
The favourable tax regime for furnished holiday lettings (FHLs) came to an end on 5 April 2025. For 2025/26 and later tax years, furnished holiday …
Enjoy £1,000 of property income tax-free
The property allowance enables individuals to enjoy property income of up to £1,000 each tax year free of tax and without the need to report …
