Guaranteed Rent for Landlords | Important changes to the taxation of UK residential property
Guaranteed Rent for Landlords – The government has introduced that the coming year will see additional important modifications to the taxation of UK residential property affecting all non-UK residents and all UK residents who use more than one residential property.
Guaranteed Rent for Landlords | In a transfer that additionally affects UK residents, from April 2015 occupiers of a couple of residence will not be capable of choose which dwelling advantages from principal personal residence relief (which may give one hundred per cent reduction from capital positive aspects tax for individuals). Rent guarantee scheme – solely the precise main home might be eligible for relief. This provides to a restriction to be introduced with impact from April 2014, which reduces a period throughout which a property could not be used as a house while still qualifying for relief from three years to 18 months.
Guaranteed Rent for Landlords | Extensions to the 15 per cent charge of stamp-obligation land tax and the annual tax on enveloped dwellings, taxes that have an effect on corporate owners of residential property, come into impact from 20 March 2014 and April 2015 respectively. Guaranteed Rent for Landlords