Buy To Let Tax Guide - Tax Saving Tips For Landlords
With low interest rates and demand amongst tenants rising (due to the lack of new house builds and the fact that lenders are retaining a very cautious approach to first time buyers by demanding significant high levels of deposit) we believe that demand for the rental sector is likely to remain and potentially grow in the future.
When making a buy to let investment decision, landlords need to be aware of the tax issues and obligations facing them not only as property investors but also as individuals with other businesses, careers and investments. Many factors can affect the returns in both capital and income and it is important to start with the right purchasing structure and to make use of all the available reliefs at the appropriate times.
Tax is an increasingly complex area and it is essential that landlords seek advice from a specialist taxation and accountancy adviser. This will ensure a strategy is devised which best suits your individual needs.
The Buy to Let Tax Guide does not cover every tax aspect of buy to let. It sets down the basics and provides pointers for tax saving ideas. To minimise your own tax liabilities it is essential to take tax advice that is tailored to your individual situation.
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This Essential Guide Covers...
What a property investment business is - with info on income, expenditure, taxation & profits
Who is taxed and when the tax is payable - jointly held property, record keeping, tax returns, PAYE, capital gains and losses, income losses & corporation tax
Tax allowable expenditure - Capital & revenue costs, types of revenue costs, when to claim, repairs & improvements, furnished property, interest & loans, extracting capital, capital allowances, your time & wages, travelling costs, HMO's
> How should you own your property
> Trading or investment
> Furnished Holiday Lettings
> Capital Gains Tax
> Inheritance Tax
> Overseas Issues
> VAT & SDLT
> Commercial Properties
> Distressed Properties
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