The SDLT supplement and changing your main residence
In most cases, a higher rate of stamp duty land tax (SDLT) applies to the purchase of second and subsequent residential properties in England and …
VAT and DIY housebuilders
A person who buys a new home from a property developer does not have to pay VAT on it as the sale is zero-rated. However, …
Which home is the main residence?
Private residence relief is a valuable capital gains tax relief which means that a person does not have to pay capital gains tax on any …
Should I sell before the end of the FHL regime?
Furnished holiday lettings (FHLs) enjoy tax advantages not available to landlords letting residential property on long-term lets. The advantages are particularly beneficial when it comes …
Relief for replacement domestic items
Landlords letting residential property are not entitled to a deduction for the cost of the domestic items that they provide in the property. They are …
HMRC revise stance on replacement boilers
In 2023, HMRC wrote to some taxpayers with property income asking them to check that the information provided in the property pages of their 2021/22 …
10 Tips for Optimizing Final Accounts in Construction
In the dynamic landscape of construction accounting, optimising final accounts is essential for the success and sustainability of your projects. With meticulous attention to detail and strategic planning, you can streamline your accounting processes and maximise profitability.
Business rates for 2024/25 and changes to empty property relief
Business rates, rather than council tax, are payable on non-domestic properties. The rates are worked out by applying the relevant multiplier to the property’s rateable …
End of multiple dwellings relief for SDLT
As announced at the time of the Spring Budget, multiple dwellings relief for stamp duty land tax (SDLT) is to be abolished from 1 June …
Reduction in higher rate of capital gains tax on residential property gains
For capital gains tax purposes, residential property gains have their own, harsher, rules. Not only is taxed charged at a higher rate, but taxpayers also …
Efficient Payroll Services for UK Construction Businesses
Payroll management in the construction industry can be challenging due to the complex nature of the work, varying rates of pay, and compliance with tax …
Calculating the capital gain on the sale of an investment property
Rising interest rates have forced many landlords to sell up. When selling an investment property, capital gains tax is payable at the residential rates to …
