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Buy-To-Let Property Tax Handbook, 2nd Edition

Buy-To-Let Property Tax Handbook, 2nd Edition

  • Author:
  • Publisher: Bloomsbury Professional (formerly Tottel Publishing)
  • ISBN: 9781526509420
  • Published In: August 2019
  • Format: Paperback
  • Jurisdiction: U.K. ? Disclaimer:
    Countri(es) stated herein are used as reference only
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  • Description 
  • Contents 
  • Details

    Buy to Let Property Tax Handbook, 2nd edition provide tax advisers with guidance about the key issues and tax planning opportunities that BTL property owners need to be aware of whilst running their business.

    It follows the logical sequence from the commencement through to the cessation of the residential rental property business and covers the taxation issues that might apply. It also offers helpful guidance on the legal aspects of buying and selling a BTL property, as well as landlord obligations to tenants.

    This new edition has been updated in line with the 'cash basis' measure for small unincorporated property businesses (F(No 2)A 2017), and the introduction of the £1,000 property (and trading) allowance (F(No 2)A 2017).

    Other legislative changes relevant depending on the landlord's circumstances that are covered are the following:

    • IHT and UK residential property held by overseas structures (F(No 2)A 2017) corporation tax: carried forward losses and loan interest relief restrictions (F(No 2)A 2017)
    • SDLT: increased rates on additional dwellings (FA 2018) and the new Land Transaction Tax in Wales.

    Changes bought in by Finance Act 2019 are also covered. The draft clauses include the following

    • Changes to the territorial scope of corporation tax and CGT (including payments on account) for non-UK residents individuals and companies
    • Changes to rent-a-room relief
    • Changes to SDLT periods for delivering returns and paying tax
    • CGT reporting and payment on account obligations for UK residential property gains UK residents.
  • Chapter 1: Commencement of a property rental business
    Stamp duty land tax
    Interest relief
    Chapter 2: Calculating profits or losses
    Property income
    Property expenses
    Capital or revenue
    Reverse premiums
    Chapter 3: Capital allowances
    Business property renovation allowance
    Chapter 4: Furnished lettings
    Wear and tear allowance
    Abolition of the renewals basis
    Repairs and replacements
    Chapter 5: Furnished holiday lettings
    Chapter 6: Loss relief
    Chapter 7: Letting the home
    Rent-a-room
    Private residence relief – CGT
    Chapter 8: Overseas property businesses
    Chapter 9: Jointly-owned properties
    Spouses and civil partners
    Other joint owners
    Is there a partnership?
    Chapter 10: Non-resident landlords
    Chapter 11: Company landlords
    Chapter 12: Inheritance tax
    Chapter 13: VAT aspects
    Chapter 14: Leases
    Chapter 15: Incorporation of a property rental business
    Chapter 16: Other issues
    Rents connected with a trade or profession
    When does a property rental business cease?
    Post-cessation income and losses

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