At current, all landlords of residential property in or outside the UK, are permitted to claim relief for finance costs (e.g. mortgage interest) on their let property, giving tax relief at 40% and 45% for landlord. Individual that receive rental income on residential property and incur finance cost (such as mortgage interest) will not be
Our Blog
July 13, 2017
UK Votes to leave the EU
The move will not have immediate legal and tax consequences for multinationals with UK operations. In longer term however, the landscape may change significantly for the UK, in terms of trade, tax and investment, both with regards to its relationship with European Union and with non-EU countries. We hope that the government will move quickly
July 13, 2017
Buy To Let Bring Record Receipts For April
April saw the highest level of stamp duty land tax (SDLT) recorded for a single month, according to statistics released by HMRC. Nearly £1.2bn was raised from 173,430 property transactions in March.
July 13, 2017
Auto-Enrolment
If you are an employer you are now legally required to enroll your eligible employees into a qualifying pension scheme. This reform is staged over a six-year period, and is phased depending on the size of the employer. Minimum contributions are based on what’s known as ‘qualifying earnings’. For 2016/17, this is everything over £5,824
June 26, 2017
Capital Gains Tax – Basics
What is capital gains tax? Capital gains tax (CGT) is a tax on the profit when you dispose of a chargeable capital asset. The common way for a person to dispose of an asset is to sell it to another person. However, a gift of an asset also constitutes a disposal for capital gains tax
June 26, 2017
Taxable Income bands and corresponding rates
Taxable Income bands and corresponding rates 2015/16 2016/17 Basic rate 20% 20% Higher rate 40% 40% Additional rate 45% 45% Starting rate of saving income 0% 0% Dividend ordinary rate (effective rate with tax credit) 0% 0% Dividend higher rate (effective rate with tax credit) 32.5% (25%) 32.5% Dividend additional rate (effective rate with tax
June 16, 2017
UK Votes to leave the EU
The move will not have immediate legal and tax consequences for multinationals with UK operations. In longer term however, the landscape may change significantly for the UK, in terms of trade, tax and investment, both with regards to its relationship with European Union and with non-EU countries. We hope that the government will move quickly