If you rent out a residential property, HMRC will want to know the total amount received and the expenses you’ve paid for. It applies even if there were periods when the property was empty. So what to do if you’ve missed the submission date for a tax year? Or even a...
Common expenses that can be claimed against rental income are: mortgage interest – even though there were new rules in April 2017; the management fees for the agent; maintenance of the building including provision of a cleaner; travel costs to visit the...
Splitting ownership of a property and the tax implications. When 2 people buy a property they can own it in one of two ways. Owning as Joint Tenants suits couples, who would own an equal share each, which, when one dies, the other inherits the property automatically....
