property taxation Archives - Page 11 of 18 - Whitefield Tax - Isle of Wight Accountants

A Dozen Easy Ways to Cut Your Tax – An Accountants Year End Tips

by Jessica Garbett | Mar 1, 2018 | business taxation, capital taxation, enquiries and tax disputes, pensions, personal finance, personal taxatation, property taxation

This time of year there are a lot of articles appearing in the media on year end tax planning – but its an ongoing process – here are our top twelve easy tips to keep tax bills under control – they are not just for year end, they are day to day: Make...

Allowable expenses when using home as office

by Jessica Garbett | Feb 28, 2018 | ACCA, business taxation, property taxation

Tips to benefit from – and traps to avoid. Working from home may be many people’s dream come true. Whether it’s the employee of a forward thinking company in need of work flexibility, or a small business looking for a cash-flow head start through the reduction...

Changes to ATED reporting

by Jessica Garbett | Feb 22, 2018 | ACCA, capital taxation, property taxation

Understanding the new rules from 1 April 2018 for Annual Tax on Enveloped Dwellings (broadly speaking, residential property worth £500k or more owned by Corporate Entities) If you are affected by ATED the clock is now ticking in the countdown to the new reporting...

Principal Private Residence Relief (PPR) and off-plan home purchases

by Jessica Garbett | Jan 31, 2018 | ACCA, capital taxation, property taxation

Why buying an off-plan property means purchasing a property which is not yet completed. In Desmond Higgins v HMRC [2017] TC 05724 the period of ownership of an off-plan apartment was found to have started, for PPR purposes, only once the property had been physically...

The tax treatment of rental expenses

by Jessica Garbett | Jan 18, 2018 | ACCA, property taxation

Factors to consider when calculating rental expenses. Generally, when calculating the rental business profits, expenses will be treated as revenue expenditure provided they are incurred wholly and exclusively for the purposes of the business and are not of a capital...

Pre-letting expenses – capital or revenue?

by Jessica Garbett | Jan 15, 2018 | ACCA, property taxation

Guidance on whether repairs are a capital or revenue pre-letting expense. For tax purposes profits from UK land or property are treated as arising from a business. The broad scheme is that rental business profits are computed using the same principles as for trades...

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A Dozen Easy Ways to Cut Your Tax – An Accountants Year End Tips

Allowable expenses when using home as office

Changes to ATED reporting

Principal Private Residence Relief (PPR) and off-plan home purchases

The tax treatment of rental expenses

Pre-letting expenses – capital or revenue?

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