Holiday lets: new rules to close tax loophole

Holiday lets: new rules to close tax loophole

The Government has announced the forthcoming introduction of new rules to prevent abuse of a ‘tax loophole’ associated with holiday lets. What is a holiday let? Holiday lets are properties let out, short-term, for the sole purpose of ‘holidaying’. Typically

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Let Property Campaign: An opportunity for Airbnb hosts

Let Property Campaign: An opportunity for Airbnb hosts

Airbnb hosts who have neglected to declare taxable rental income have an opportunity to do so via HMRC’s Let Property Campaign (LPC). If rental income from a second property is not covered by rent-a-room relief, this should be declared on

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SDLT cut creating behind the scenes disruption

SDLT cut creating behind the scenes disruption

During the pandemic, the Chancellor temporarily increased the nil rate band at which Stamp Duty Land Tax (SDLT) became payable. Otherwise referred to as the “Stamp Duty Holiday”, it was hoped this would boost the property and construction industry. Fearing

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Stamp duty surcharge on non-resident property transactions

Stamp duty surcharge on non-resident property transactions

The government has issued draft legislation outlining how the two per cent Stamp Duty Land Tax (SDLT) surcharge will apply to non-resident property transactions. ‘Relevant period’ for stamp duty residence test From 1 April 2021, the number of days a

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Tenants quizzed about landlord’s tax affairs

landlord's tax affairs

Tenants are now being asked questions by HM Revenue & Customs (HMRC), about their landlord’s tax status and liabilities, as they are prompted to respond to official ‘fact-finding’ letters. HMRC has been targeting landlords for some time now, to identify

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Landlords, all is not lost in the 2019 lettings landscape…

Landlords, all is not lost in the 2019 lettings landscape…

Recent changes to regulation and property taxation have put the staying power of many landlords to the test. So, as a new year gets underway, we consider whether 2019 will be more of the same.  There are hundreds of articles,

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