In common with other types of business, expenses are unavoidable when running a property business. However, subject to certain conditions, it is possible to obtain tax relief for the expenses of running a property business.  Allowable expenses  The general rule is that a landlord can deduct revenue expenses that are incurred wholly and exclusively for

CGT or IHT  Sometimes there is a choice of which tax to pay and where a person owns an investment property, they may be able to exercise a degree of choice whether they take a capital gains tax hit or their beneficiaries pay inheritance tax. However, there is something of a gamble here – while

First-time buyer relief may reduce the stamp duty land tax (SDLT) that a first-time buyer pays when they buy their first home in England or Northern Ireland. A similar scheme applies in Scotland for Land and Buildings Transaction Tax (LBTT), but there is no first-time buyer relief from Land Transaction Tax in Wales. This articles

Making use of property losses When letting property, the aim is to make a profit. However, as recent years have shown, life is unpredictable and things do not always work out as planned. Where losses are made, it may be possible to obtain tax relief for those losses. General rule The general rule for losses

Conditions and problems surrounding the claim for Incorporation relief Businesses become companies for a variety of reasons. Not so long ago it was mainly as a tax planning tool but increasingly the differences in tax rates between the self-employed and a company mean that unless the profit is in excess of approximately £50,000 the increased