In September, the Chancellor of the Exchequer, Kwasi Kwarteng, announced a cut to stamp duty in the mini-budget. The tax break, which applied to properties worth up to £250,000, was initially introduced as a permanent measure. However, in the Autumn Statement, Chancellor Jeremy Hunt confirmed that the stamp duty cut will only remain in place […]
Councils given the flexibility to increase council tax and social rents capped at 7%
Jeremy Hunt announced that English local authorities will be able to increase council tax by 5% annually without a referendum. Following the Autumn Statement, local authorities will be allowed to raise council tax by 3%, and those which also have social care responsibilities can increase it by a further 2% (a total of 5%) without […]
Furnished Holiday Let Tax: What do you need to know?
A furnished holiday let (FHL) is a particular type of rental property classification in the UK.
The Christmas gift allowance: how it works
Are you planning on treating your staff or clients this Christmas? Christmas gifts can be subject to tax, so it is important to understand these tax rules this festive season.
Landlords targeted over undeclared income from residential property
Landlords are being targeted by HM Revenue & Customs (HMRC) over what appears to be undeclared rental income or income related to residential property.
Are you missing out on tax-free corporate investment allowances?
When it comes to running a business, you must keep up with the ever-changing industry you are a part of.
Capital Gains Tax: What do you need to know?
Capital Gains Tax (CGT) is a tax applied on the profit you receive when disposing of an asset.
Time to rethink your property portfolio? What you need to consider
Investing in property can still provide a strong return, but it needs careful planning to achieve the best outcomes. Just buying new properties without a clear strategy would be risky. While it is true that rates of interest continue to increase, as do many of the costs associated with being a landlord, with the correct […]
The energy price cap and what to expect from your energy bills
Household energy bills are being capped by the government at £2,500 per year (from £1,971) from October 1st, to combat soaring costs. Prior to the announcement, energy bills were expected to rise to £3,549 per year. The energy price cap will apply for 2 years to all households in England, Scotland and Wales. However, the […]