Owning buy to let properties through a limited company holds several advantages over owning the properties as an individual(s). This topic was discussed in a previous article. In this article we look at particular circumstances under which the two options can be quite close, this is because of another …
The Chancellor of the Exchequer recently announced a mini holiday from stamp duty on residential properties. The holiday lasts from now until next March, and all categories of buyers will benefit including landlords, first time buyers, and buyers who have owned homes before. Let’s look at how this works and …
Individuals can earn up to £7,500 rental income per annum tax free under Rent a Room relief by letting out furnished accommodation in their own home. The £7,500 is rental income, before any expenses are deducted. If the income is below £7,500 for the year, and an individual is not …
Venture-backed companies often grant Restricted Stock Units (RSU) to its employees as a form of incentive plan to encourage employees stay with the company for longer. The shares in RSU can be restricted (with no voting rights, for example) and only become available to employees after certain conditions are met, …
You may already be aware of the personal savings allowance. This offers an allowance of £1,000 of interest income for basic rate taxpayers, or £500 for higher rate taxpayers. (The allowance is not available to additional rate taxpayers.) Additionally, if you are a low-income earner, you may be eligible to …
Rules for two ancillary reliefs on Capital Gains Tax (CGT) relating to rented residential properties are changing. Changes to final period of property ownership, and lettings relief will apply to property disposed of from 6 April 2020 onwards. If you are planning to sell a property within the next couple …
If parents have buy-to-let properties and also have children growing into adulthood to whom they wish to leave their properties, they can make plans to put the properties into a trust to avoid their children being hit by a huge IHT bill. The general rule of thumb is, the larger …
It is never too early to start inheritance tax planning (IHT). Early planning will allow you to take advantage of all the allowances and facilities available to protect your assets and to pass them on to your children, grandchildren, or whomever you choose. Over the course of many years you …
Income tax Personal allowance will increase to £12,500 (current level £11,850) from April 2019, and higher rate threshold will increase to £50,000 (current level £46,350), and they will remain at this level for the 2020-21 tax year. Pension and savings tax Pension lifetime allowance will increase to £1,055,00 from …
Much has been said about the merits of running a buy-to-let business through a private limited company. But the decision of whether to buy a property as an individual or through a company depends on numerous factors. This article briefly explains some of the most critical factors. It also suggests …