Tax And Property
The tax implications regarding property is by far the most complicated aspect of the whole subject, in my opinion. I’m not talking about stamp duty; I’m talking about the tax benefits of starting up a property related company to reap the rewards of discounted dividend tax. I’m also talking about how much tax you have to pay when you walk away with profit- yes; profit is declared as income tax, unfortunately.
I’d like to strongly advise that I’m not a tax expert, so I wouldn’t take anything in this section as gospel. All the articles are just guidelines to help assist. For the real facts, you will need the wise words of an experienced accountant that has dealt with property related acquisitions before.
Which Council Tax Band Is My House In?
26 Dec 2008 / Tax And Property / 11 Comments
I got an email earlier from someone asking me what Council Tax Band their property is in. I imagine a lot of people have no idea what council tax band [...]
Capital Transaction Vs Trading transaction
03 Dec 2007 / Tax And Property / 1 Comment
Buying property seems to be the easy step when it comes to property investment, and relatively speaking, so is selling property. However, it goes without saying that you don’t want [...]
Sell A Property And Benefit From Taper Relief
26 Nov 2007 / Tax And Property / 5 Comments
27/11/2007 EDIT: From the 6th of April 2008 Taper relief will be abolished. Chancellor Alastair Darling announced that taper relief will be abolished, and will be replaced by a flat 18% tax rate. [...]
Using A Property Company To Save On Tax
25 Nov 2007 / Tax And Property / 18 Comments
As far as I’m concerned, the biggest drawback to buy to let investors is the huge tax implications. You could potentially end up paying a massive 40% of your profits [...]
Tax On Selling Property
19 Sep 2007 / Tax And Property / 3 Comments
Before I begin, let me make the primary message quick and painful- YES, you may have to make tax payments when selling your own property. Avoiding costs and expenditures when [...]
Landlords Paying Tax On Rental Income
05 Mar 2007 / Tax And Property / 2 Comments
It was Benjamin Franklin that famously said, in this world nothing can be said to be certain, except death and taxes. Never a truer word been spoken. For those blissfully [...]
How Much Stamp Duty Do I Have To pay?
15 Jan 2007 / Tax And Property / 2 Comments
The amount of Stamp Duty you pay depends on the purchase price of the property. The rates can change, as they have done over the years, reflecting the condition of [...]
What Is Stamp Duty?
15 Jan 2007 / Tax And Property / 0 Comments
Stamp Duty is the tax you pay when purchasing property. It is a percentage paid on the purchase of a home or non-residential property, graded into bands. Your conveyancing solicitor [...]
Stamp Duty Land Tax (SDLT) Form
09 Dec 2006 / Tax And Property / 9 Comments
When I got my initial quote from my conveyancing solicitor, they offered me a lot of extra optional services for extra fees. Being naive, I declined most of the additional [...]
I initially started this website because I wanted to document my every step from property idiot to property landlord,
in hope that people would find my site and help me along the way. I literally didn't have a clue about being a landlord
when I started this website.