October 1st, 2011
This is the second article in a series looking at different business structures that can be used by investors in buy to let properties, and deals with using a limited company. A limited company is…
Property tax news
Three Homes Are Where the Heart Is! More Insights Into What Makes A ’Main Residence’
December 1st, 2011
A recent case heard by the Tax Tribunal (AJ Clarke v HMRC) has shed more light on what it takes to make a property your ’main residence‘ and thus exempt from capital gains tax (CGT). Mr Clarke…
New for Old! The End of the Renewals Allowance
February 1st, 2012
The tax legislation provides for a deduction for the cost of renewing “trade tools” (see ITTOIA 2005, s 68). The legislation is considered to refer only to small items such as hammers, chisels and…
Home Sweet Home - Exempt from CGT?
July 1st, 2011
Everyone knows that a gain they make when selling their home is exempt from capital gains tax (CGT), but everyone is not always correct in this assumption. There are several ways in which CGT can be…
Is a Holiday Let “Business Property” for Inheritance Tax?”
March 1st, 2012
In most cases, “business property” attracts 100% relief for the purposes of inheritance tax once it has been owned for two years, so if you own such property when you die, its value will not be…
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