Allocating income for tax when property is jointly owned Property that is jointly-owned may be let out. As people are taxed individually, the income must be allocated in order to work out the tax that each joint owner is liable to pay. The ways in which income from jointly-owned property is taxed depends on the […]
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Changing company accounting periods – the implications The usual method of incorporation is via Companies House WebFiling or Company Formation Agent (although paper submissions are still accepted). If incorporating via WebFiling there is the added benefit of HMRC automatically being notified by Companies House when a new company has been formed. HMRC will then usually issue a
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When it comes to letting property, not all are equal when it comes to tax – lettings that qualify as ‘furnished holiday lettings’ (FHLs) benefit from special tax rules. The operation of a FHL is deemed to be a business rather than a property income investment and therefore the usual business income and expenditure accounts
Holiday Lets – What Happens If The Rules Are Not Complied With? Read More »
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SDLT Savings For Mixed Use Property Read More »
