Rental Property / Tax
Many people are investing in rental property but a surprising number do not register for property tax, which falls against the tax laws and could lead to an investigation by the HMRC.
We recommend a free informal discussion with us to identify your tax liabilities in relation to your rental property / capital gains tax.
Capital gains tax is a tax on the gain you make when you sell or otherwise dispose of an asset. Capital gains tax is payable even when you gift an asset, transfer it or exchange it for something.
You normally do not have to pay capital gains tax when selling your home but the rules are different when you dispose of land / property that is not your MAIN home.
We are more than happy to advise whether you have tax liabilities in relation to your property and can assist with the following:
- Ways of limiting your tax liability
- What is tax deductible Capital gains tax allowance
- Tax in relation to your mortgage interest
- Vat considerations
- When to use a limited company to save tax