Tax, reliefs and allowances on different types of property income

There are many ways to earn an income from property such as residential properties, furnished holiday lettings, commercial properties and renting out a room in your house. The exact tax treatment and allowable expenses will differ depending on the type of property you own and your level of income. In most circumstances income from property […]

A guide to tax when buying, renting out and selling property

When the Chancellor George Osborne announced that he was curbing tax breaks for landlords in Summer Budget 2015, there was speculation that it would result in thousands of landlords selling up and getting out of the property business. This was because the changes would alter 2 extremely valuable reliefs which landlords have been able to […]

Tax issues to consider when investing in property and when to take advice

Tax issues to consider when investing in property and when to take advice. The No Brainer Business Book helps business owners, such as yourselves, grow their businesses using our tried and tested formula.  To find out more and download your free copy, head over to The No Brainer Business Book. Westbury Accountants and Business Advisors is an accountancy […]

Investing in UK Property – Opportunity or Minefield?

UK property has always been attractive to overseas investors who see the underlying stability of the UK economy (despite the problems in recent years), the growth in value of quality property, and UK’s fairly-transparent ownership laws coupled with steady and sometimes spectacular returns, as the place to invest their surplus funds. But the purchase of […]

Changes To The Taxation Of High Value UK Residential Property

Summary A number of very significant changes have been made to the taxation of residential property in the UK and draft legislation is now in place to implement the last of these with effect from the beginning of April 2013. These changes concern residential property worth more than £2m, which is owned by ‘non-natural persons’, […]

Residential Service Charge Costs – A question of accruals

As specialists in the audit of Residential (and Commercial) service charge accounts we were highly interested in a recent case (Wenghold -v- Egleton – 4 September 2013) heard by the Upper Tribunal (Lands Chamber) which may have far-reaching effects on accounting for service charges. Until recently, the accruals basis of accounting was accepted as the […]