• FREE 3 Issues - The current issue and the previous two issues delivered to your doorstep. Click here to see tax strategies.
  
• FREE Report - A copy of our popular e-Report 'Landlords - How to Maximise Property Tax Reliefs' (online price £9.97 + VAT).

Here is what our tax experts are sharing with you in this month's magazine:

• New for Old! The End of the Renewals Allowance
  
  The tax legislation provides for a deduction for the cost of renewing “trade tools” (see ITTOIA 2005, s 68). The legislation is considered to refer only to small items such as hammers, chisels and so on, but by concession the relief has been extended to any items of plant and machinery.The allowance works on the basis that you cannot have a deduction for...
• Claiming Travel Costs in Property Rental Businesses
  
  A rented property portfolio may not be placed in the same street or even the same town as your main residence or place of work. Travel from one property to another, as the landlord dealing with problems as they arise, does cost. That cost is allowed as an expense against rental income received.The treatment of travel expenses is similar to that as incurred...
• What is a `dwelling house’ and Why Does it Matter? 
  
  At first sight, it would seem that the answer to the question `What is a dwelling house?’ is pretty straightforward. Most people would have a clear idea of what they regard as a house and as a dwelling. The Oxford English dictionary defines a `dwelling house’ as a house used as a residence, not as an office etc.  `Residence’ is defined as...
• Use it or Lose it! Flat Conversion Allowance
  
  There is a special relief that allows significant tax write-offs for the cost of getting disused flats over commercial premises back into letting condition. This article will cover the basics of what could, for many property owners, prove to be a potentially valuable tax break. But be warned...
• Tax Insider: Tax Tips
• Tax Insider: Your Property Tax Questions Answered by Arthur Weller