Full Description
Buy-to-Let Property Tax Handbook is a single source for tax practitioners, accountants and others who advise clients and need to be aware of the tax aspects of running a residential buy-to-let property business, as well as the main non-tax considerations. This Second Edition has been brought up to date with significant legislative changes introduced since publication of the first edition, including all subsequent Finance Acts up to and including Finance Act 2019. It also features a new chapter on partnerships. Legislative changes in this edition include the following: The 'cash basis' for small unincorporated businesses (F(No 2)A 2017)The GBP1,000 property allowance (F(No 2)A 2017)Corporation tax: carried forward (F(No 2)A 2017)SDLT: changes to higher rate provisions on additional dwellings (FA 2018); plus commentary on LBTT in Scotland and LTT in Wales This handbook highlights key issues, tax planning opportunities and pitfalls for the unwary, and includes numerous worked examples and case studies, as well as references throughout to legislation and HMRC guidance.With contributions from a wealth of property tax specialists, this book is an invaluable resource for accountants and tax practitioners who have landlords as clients and is also ideal for property investors themselves.
Contents
PART 1 TAX ISSUESPrologue Starting a buy-to-let property business? What you need to know Chapter 1 Commencement of a property business Appendix to Chapter 1: Making Tax Digital Chapter 2 Calculating property business profits and losses Appendix to Chapter 2: What expenses can be claimed for a buy-to-let property business? Chapter 3 Finance costs relief restrictions Chapter 4 Capital allowances Chapter 5 Furnished lettings - tax relief for furnishings and fixtures etc Chapter 6 Furnished holiday accommodation/lettings Chapter 7 Loss relief Chapter 8 Jointly owned properties Chapter 9 Partnerships Chapter 10 Non-resident landlords Chapter 11 Corporate landlords Chapter 12 Capital gains tax Chapter 13 Inheritance tax Chapter 14 Incorporation of a buy-to-let residential property business Chapter 15 Stamp duty land tax, land and buildings transaction tax and land transaction tax Chapter 16 Other issues PART 2: LEGAL ISSUESChapter 17 Buy-to-let mortgages Chapter 18 Dealing with tenants and agents Chapter 19 Landlord obligations Appendix to Chapter 19: Essential checklist for new landlords and new properties
