Since April 2017, changes to Buy-to-Let Tax Relief have been phased in, making it more difficult for many landlords to make a profit. Many landlords are still unaware of these changes, leading to incorrect tax returns, penalties, and possible investigation by HMRC.
Two changes will be coming into play from April 2020 in relation to the relief from Capital Gains Tax relief for private properties.
The Government is making changes to the way landlords pay tax, which for some will mean they’re looking to leave the landlording behind. But if you play your cards right, you can run your rental property business the right way and still be successful.
March is the perfect time to do a little spring cleaning, and we don’t mean with a mop and bucket! The tax year ends on the 5th April 2018, and a new tax year is starting. So get a head-start on your new tax year resolutions by following these tips.
April 2016 tax changes; It’s the time of the year that UK businesses brace themselves for, tax change time. Our annual reminder that anything can and will change. To help prevent unpleasant surprises, we thought we’d list the expected changes for the 2016/2017 year for you below:
This year the government are introducing new legislation for landlords, which for many, will mean they have to make significant changes to the way they run their businesses. Read about the new landlord tax changes and contact our team if you think your business will be affected.