Heighten Accountants
Mortgage interest relief refers to deductible mortgage interest costs from taxable income, which helps lower the overall tax liability. This tax relief was initially available to both homeowners and landlords, but over the years, the rules have changed significantly. Tax rules in the UK are always evolving and changing for homeowners and landlords. In such […]
Value Added Tax (VAT) is very significant in the UK construction industry, as it is affecting developers, contractors, and property owners. Understanding VAT regulations is important for ensuring HMRC regulations, avoiding financial penalties, and maximising VAT relief where they may be applicable. One of the biggest challenges in construction VAT is determining the correct rate […]
Understanding property taxes in the UK is crucial as property taxes represent a significant financial obligation for property owners, developers, and investors. Taxes can significantly impact the profitability of your property investments and influence decision-making regarding buying, selling, or holding onto properties. Importance of understanding property taxes Knowledge of property taxes allows you to effectively […]
When ATED was introduced on 1 April 2013, the threshold amount was £2 million. The threshold has since been reduced, firstly to £1 million from 1 April 2015 and then to £500,000 from 1 April 2016.
What is Let Property Campaign? HMRC has introduced the Let Property Campaign opportunity for those landlords who failed to declare the rental income tax for their residential properties, in the UK or abroad. The UK landlords can make voluntary disclosures to His Majestic Revenue & Customs to get their tax affairs sorted and take advantage […]
The registration of overseas entities owning property in the UK is a record or list of companies, organisations, or other legal entities registered or incorporated in a foreign country. In the UK, this information is maintained by Companies House. It may be used for various purposes, such as tracking foreign investment, enforcing tax laws, or […]
