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

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.