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Reduced Rate VAT Eligibility

The key time where the reduced VAT rate becomes useful for most property investors is when they are converting a property from use to another. For example, a single dwelling is being converted into a multiple dwelling property (a HMO). The complete information can be found in VAT Notice 708 Buildings and Construction which can […]

Read more October 14th, 2019

Tax Return Season

If you are a Landlord with properties owned in your own name, then you should be considering completing your tax return now, if you have not already done so. This is to ensure you get the deadline for filing of 31 January 2020. Just remember that Section 24 (the interest rate restriction) is being introduced […]

Read more October 10th, 2019

Property, Tax Credits And Universal Credit

Over the last few months we have had a number of questions on the above, and on review of the details of how Tax Credits and Universal credits work it has highlighted a few issues. If you are receiving Tax Credits and invest in property, you need to be conscious of any changes that may […]

Read more October 10th, 2019

Flipping Property

It is a very important question to ask on how to structure the purchase and sale of a property you intend to buy and sell with the intention of making a profit. Many people look at this and decide to do this in their own names as a capital gain. As individuals, we all have […]

Read more October 10th, 2019

Making Tax Digital Delayed For Landlords

Over the last few months, HMRC has made an announcement that they will not be introducing any additional tax requirements in 2020. This does not mean that the Making Tax Digital changes will not happen. HMRC has been clear that it will. It is merely a matter of a further delay to the implementation for […]

Read more October 9th, 2019

Advisory Fuel Rates For Company Cars September 2019

These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 September 2019. Where there has been a change the previous rate is shown in brackets. You can continue to use the previous rates for up to 1 month from the date the new rates apply. For hybrid cars use […]

Read more October 4th, 2019

Time For An Electric Company Car?

The government has announced that there will be a zero P11d benefit for the drivers of electric cars from 2020/21. This is instead of the 2% scale charge that was originally included in the Finance Act 2017 to apply for 2020/21. The legislation for the change will be included in Finance Bill 2020 and it […]

Read more October 3rd, 2019

Radio Presenter Wins IR35 Personal Service Company Case

The extension of the “off-payroll” working rules to the private sector mentioned in our previous article is planned for April 2020 but in the meantime, tax tribunal decisions are still being decided against HMRC. In a recent case involving a radio presenter working for TalkSport, it was decided that the presenter would not have been […]

Read more October 3rd, 2019

Get Ready For The “Off-Payroll” Working Rules

Where large or medium-sized organisations are paying workers via personal service companies or agencies they will need to operate new procedures from 6 April 2020. The new rules will apply to partnerships, LLPs and larger charities as well as limited companies. Only organisations classed as “small” under the Companies Act criteria will be outside of […]

Read more October 3rd, 2019

Builders’ VAT Rules Delayed For A Year

The government have decided to delay the start of the proposed VAT reverse charge for supplies by sub-contractors in the construction sector. The reason for the u-turn is the lack of awareness of the change that was originally due to start on 1 October 2019. Many sub-contractors, and some main contractors, were not prepared for […]

Read more October 3rd, 2019