No rent controls in England – government confirmation Oct 2023
Rent controls as currently in force in Scotland and under consideration in Wales will not be put into effect in England, the government has made clear.
Gifting out of surplus income – The exemption that could save you 40% on tax!
There is a little-known trick that allows you to pass on unlimited wealth to your loved ones free of inheritance tax. It doesn’t require complex trusts or bonds, expensive advice, or endless admin. In fact, all you need to set it up is a letter.
The exemption is known as gifting out of surplus income. In other words, you can pass on as much money as you like so long as it comes from your income rather than existing assets.
Tax Matters – What is Residential Property?
There have been a number of cases in recent years where various tax payers and advisers have claimed purchase of land and buildings as non-residential or mixed use property, and unfortunately all have failed.
Tax Implications of Social Media Influencers: What You Need to Know
In recent years, the rise of social media has given birth to a new breed of celebrities known as social media influencers. These individuals have amassed large followings on platforms like Instagram, YouTube, and TikTok, and they often collaborate with brands to promote products and services. However, what many influencers may overlook amidst their newfound fame is the tax implications associated with their earnings.
Incorporation myths
There are many myths that have been generated about incorporation of a property portfolio.
What is a Shareholder’s agreement & why is it important?
A shareholder’s agreement is a set of rules and conditions that affect a running of a company. Basically if you have a company with more than one shareholder, then this document is absolutely necessary to preserve the company and its relationships with the shareholder and directors, where you have external stewards running the company for you.
Autumn Statement 2022
Jeremy Hunt presented his Autumn Statement on 17th Nov 2022, and if there was any doubt UK are in severe recession.
A fiscal U-turn without precedent!
Over the last few days, we have seen a gradual dismantling of the mini-budget of Friday 23 September 2022, along with the economic policies that Prime Minister Liz Truss based her leadership campaign on. This emergency statement effectively replaces and re-writes the mini-budget.This emergency statement effectively replaces and re-writes the mini-budget.
Could rent controls ever work in the UK?
Rent controls, once the preserve
of European cities such as Berlin,
are increasingly being discussed
in parts of the UK, but could they
really become a reality over here?
Tax Traps of Incorporation of Buy to Let Property Portfolio
Normally landlords are advised to refinance their properties as and when possible to extract as much cash out as possible and spend it on their personal leisure.