Britain’s first tax amnesty is about to kick off – and the chance marks the last-chance saloon for many landlords who have failed to declare their property profits.
Private landlords evade £550m tax
Private landlords are evading up to £550 million in tax on rents every year, according to official figures.
Property tax records come under scrutiny
Property investors can expect a call from the tax inspector to check out their business record keeping under new campaign kicking off at the end of month.
Starting a property business
Starting a property business involves more than waking up one morning and starting to collect some rents.
Aborted property buying costs
As aborted house purchases outstrip completed sales by around two to one, according to figures from conveyancers In.Deed, property investors are racking up average costs of £5,500 for every deal that fails to go through.
Uncommercial lets
Letting a home to a friend or relative for nothing or a discounted rent has different tax rules from normal lettings.
Who pays property tax?
Property people should follow a simple rule when working out who pays the tax on rents on selling a rental property.
What is property tax?
Property tax is the catch-all term for a whole range of different laws, regulations and court cases that have evolved over the years for landlords and developers.
Deciding what sort of property business you run
Deciding what sort of property business you run – and how much what type and when tax is paid is not up to a homeowner, it depends on the property use.
Furnished holiday lets – qualifying tests
Furnished holiday lets face more complicated tax rules than any other property investment to stop second home owners benefitting from capital gains advantages.
