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HMRC targets property rentals

We are committed to helping our clients meet properly their tax compliance obligations to HMRC, while at the same time giving advice on the deductions and reliefs available so that no one pays more tax than they should out of ignorance.

We recognise that there are some who have not yet advised HMRC of their potential liability to tax in respect let property and sales of investment property. We are happy to help people to make those steps to join the tax system and to represent them in dealing with HMRC, … Continue Reading

Capital tax issues with ownership of rental properties

If you are buying a property with your spouse or civil partner or even just a business partner and you intend to let it out, make sure your solicitor or conveyancer knows this and arranges the most suitable ownership status. Generally for tax reasons this will be as tenants in common. As a tenant in common you will each own a specific share of the property, which may be half, or a different specified percentage.

The other sort of joint ownership is known as a joint tenancy. In that … Continue Reading