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Property Tax UK

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    Here are the 12 strategies our tax experts are sharing with you as part of your free trial:

    • Beware The ‘Settlements’ Trap When Transferring Rental Income
    • A lot of other countries tax the income of married couples in a different, and arguably much more sensible, manner.  Rather than taking each of the spouses as a separate individual, they charge tax based on the overall household income. In the UK it is quite common for rental income to be transferred to a 'lower rate' spouse/partner.

      Alan Pink considers an anti-avoidance barrier to sharing income between spouses for tax purposes...

    • When Are Deposits From Tenants Taxable?
    • The tax treatment of security deposits received by landlords has been thrown into the spotlight by the consultation on the cash basis becoming the default method of taxation for eligible unincorporated property businesses, which was expected to be introduced from 6 April 2017. 

      Lindsey Wicks examines the tax treatment for landlords of security deposits...

    • Principal Private Residence Relief: Quality Wins Over Quantity!
    • One of the most common questions asked in relation to principal private residence relief (PPR relief) is: ‘how long do I have to live in the property before I can claim the relief?’ 

      Lee Sharpe considers how case law has developed in contentious areas of only or main residence relief for capital gains tax purposes...
    • An Inheritance Tax-Free Rental Property Business?
    • Many individuals would like to have a rental property business, but may be concerned (among other things) about the possible eventual inheritance tax (IHT) liability on the value of the property portfolio. However, a valuable IHT relief may be available to alleviate the problem in certain circumstances.

      Mark McLaughlin considers the inheritance tax treatment of a rental property business within a trading company...
    • The Residence Nil-Rate Band Explained 
    • The new inheritance tax residence nil-rate band applies for deaths on or after 6 April 2017. People have long been calling for an inheritance tax (IHT) exemption for the family home. We’re not there yet, but the new residence nil-rate band (RNRB) takes us one step closer for smaller estates.

      Lindsey Wicks takes a look at the new rules...

    • Claiming Tax Relief On Your Main Residence!
    • The general press is awash with articles about how the new tax regime restricting interest relief will affect buy-to-let (BTL) landlords over the next few years  - and what landlords should be doing about it. But these articles are not always accurate, or correct; some of the advice indicates a fundamental lack of understanding about how the new tax regime works. 

      Lee Sharpe reveals a little-known strategy on how despite the restrictions, you can still claim tax relief for interest paid on the mortgage on your main residence....

    • Can A Lettings/Management Company Get Around The ‘Osborne Tax’?
    • A Property Tax Insider reader writes: 'It seems landlords are being advised to set up a 'lettings/management' company to get around the interest relief reductions. The aim is that their company will then charge 'letting/management' fees to reduce the interest tax rate hit. Please, can you comment on this.' 

      Alan Pink looks at the use of companies for such a scenario and shares some practical tips and pointers for those considering such a strategy...
    • Dilapidation Receipts – Income Or Capital? 
      Some tenants treat the residential property they rent with great care. Unfortunately, others do not, and the landlord may receive dilapidation payments from the tenant to enable the landlord to restore the property to its former condition at the end of a tenancy.

      Mark McLaughlin highlights a case on whether a tenant's payment in respect of lettings which had become dilapidated was income or capital in the landlord's hands...
    • Running A Property Through A Company? Expenditure Checklist
      The rapid rise of owning properties through a company has seen a large annual jump, with the latest report from Countrywide revealing that 1 in 5 properties are now owned via a company. This is the highest proportion since records began in 2010.

      Lee Sharpe looks in more detail at the real costs of running a buy-to-let portfolio through a limited company...
    • 'Making Tax Digital' For Landlords - Revised Timetable Explained
      Making tax digital’ is HMRC’s project to transform the tax system.It is famously associated with the claim that we will see the end of the annual tax return.

      Lindsey Wicks examines the impact on landlords of the revised timetable for HMRC’s ‘making tax digital’ project...
    • Restricting Interest Relief - The Real Impact On Landlords
      From 6 April 2017, tax relief for finance costs is gradually being restricted. As many landlords and tax practitioners are finding out, the calculations are not quite as simple as one thought.

      Sarah Bradford takes a look at what the new restrictions on interest relief mean for landlords with differing property portfolios...
    • Private Residence Relief: Tables Turned On HMRC!
      Individuals who dispose of a dwelling house sometimes find themselves in disputes with HM Revenue and Customs (HMRC) over whether private residence relief (PRR) is due on the disposal of the property for capital gains tax (CGT) purposes. Numerous cases have reached the courts and tribunal over the years.

      Mark McLaughlin highlights a case in which the burden of proof was on HMRC in respect of a taxpayer’s private residence relief claim...
    • Property Tax Insider: Tax Tips
    • Property Tax Insider: Your Property Tax Questions Answered by Arthur Weller


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