Landlords’ Tax Welcome Pack

Overview of the taxation of rental income for landlords.

Gives you a basic understanding of the main types ofrental property and their different tax treatments.

Includes information on Unfurnished Lettings, Furnished Lettings, Furnished Holiday Lettings, Rent-a-room relief, Commercial Lettings, Residential Lettings, Capital Allowances, Loss Relief, Capital Gains Tax, Inheritance Tax, Stamp Duty, Overseas Property, company ownership – and much more.

Helps you understand and identify the tax issues – both now and in the future – that need to be addressed when running a property business.

Basic guide to tax-deductible expenditure for landlords.

Enables you to identify which of the main costs associated with owning and running a rental property are deductible for tax purposes.

Helps you minimise your tax bill.

Basic guide to recording income and expenditure.

Enables you to set up a simple methodology for recording all your rental income and expenses for the year by using a single spreadsheet document.

Helps you manage your property-related finances and also helps collect relevant information in a form suitable for processing into your Tax Return.

Quarterly tax update for landlords

Keeps you up to date with changes in the taxation of rental property.

Provides information on current and proposed changes to legislation; changes in HMRC guidance and practice; relevant Court and Tax Tribunal case decisions; Budget update.

Principally covers the direct taxes – Income Tax, Capital Gains Tax and Inheritance Tax.

Helps you respond to changes in tax law and practice and helps you plan ahead to minimise your tax costs.

Year-end tax planner

Checklist of action points for improving your tax position before the end of the tax year on 5 April.

Helps you take any necessary action before the end of the tax year to utilise available exemptions or reliefs and to minimise your tax costs.

CGT Review

Gives you an estimate of your exposure to Capital Gains Tax and considers ways to improve your position.

Incorporates special CGT rules for main residence lettings relief, taxation of leases, and review of Entrepreneurs’ Relief for Furnished Holiday Lettings.

Particularly useful when planning in advance of a possible property sale or gift, or as part of an Estate Planning exercise.

If you have already sold your property we can calculate your CGT liability and incorporate it within your Self Assessment Tax Return.

IHT Review

Gives you an estimate of your exposure to Inheritance Tax and considers ways to improve your position.

Incorporates review of eligibility for special IHT reliefs for Agricultural Property and Business Property including, possibly,Furnished Holiday Lettings.

A key part of IHT/Estate planning. Helps you understand your IHT position and how to improve it.

Capital Allowances Review

Gives you a full analysis of all qualifying expenditure to assist in maximizing the allowances you can claim (where eligible).

Losses Review

Identifies and quantifies any income or capital losses and reviews the options for obtaining relief to minimise current and future tax liabilities.

Ensures maximum tax relief for losses, at the earliest opportunity.

Pre-acquisition tax advice

Review of proposed contract and elections etc where Capital Allowances are available.

Review of ownership structure to maximise income or capital tax reliefs/allowances or to fit other Estate Planning eg use of Trusts, purchase via Pension Scheme etc.

Helps you plan ahead in advance of a property purchase.

Advice on tax implications of Non-Residence including going abroad to work

Review of your tax position under pre-FB2013 rule changes and/or post-2013 rule changes, as appropriate.

Dealing with the Non-Resident Landlords Scheme.

Helps you understand your tax position and identifies opportunities for improving it.

Advice in connection with foreign properties

Review of the interaction of foreign taxes with UK tax to minimise the cost of double taxation (being taxes in both UK and overseas).

Review of ownership structure to maximise income or capital tax reliefs/allowances or to fit other Estate Planning eg use of Trusts.