The Income Tax Act 2007 (section 836) allows for income from properties that are jointly owned by married couples or civil partners that live together, to be legally split 50/50. Changes to the default 50/50 split on property income can be declared using what’s known...
The time to claim capital allowances on your FHL is now As predicted, the government is still going ahead with their plans to remove the tax advantages that current furnished holiday let owners enjoy. The proposed revisions include: applying the finance cost...
Inheritance tax (IHT) is a concern for many individuals who wish to pass on their wealth to their loved ones. With the current threshold set at £325,000 per individual anything beyond this amount is taxed at a rate of 40%. However, with careful planning and the use of...
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