Flipping – how to choose your main residence to maximise relief

July 04, 2018 | by Sian Kelly | No comments

 

Private residence relief (also known as main residence relief) takes the gain arising on the disposal of a person’s main or only residence out of the charge to capital gains tax. This relief means that in the majority of cases, any gain arising when a person sells their home is tax-free.

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Jointly owned property- how is income taxed?

April 25, 2018 | by Sian Kelly | No comments

 

Where property is owned jointly by two or more people, the way in which any income is taxed will depend on the relationship between the owners.

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Buy-to-let landlords-the new rules on interest relief

September 07, 2017 | by Sian Kelly | No comments


With rising property costs and low interest rates, many people took out a mortgage to invest in a buy-to-let property. As long as property prices continued to rise and the tenants paid their rent, investors could make money from the rising market while the rent from the tenant paid off the mortgage

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Property development- investment vs trading

June 23, 2017 | by Sian Kelly | No comments

For many, buying a property, doing it up and selling it for a profit is an attractive proposition. However

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Property losses – what can you do with them

September 20, 2016 | by Sian Kelly | No comments

 

For income tax purposes, income from land or property in the UK which is owned by the same person or group of persons is treated as forming a property rental business. Tax is charged by reference to the profits of the business as a whole, rather than by reference to each individual property.

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Second homes – buy now to avoid SDLT supplement

March 08, 2016 | by Sian Kelly | No comments

 

One of the Chancellor’s shock announcements of the 2015 Autumn Statement was that a new 3% SDLT supplement would apply for second residential properties. The supplement comes into effect from 1 April 2016.

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