Have a property rental but can't keep up with all the latest changes that affect landlords?
.......well, you're not alone, and you shouldn't have to go it alone either. We'll provide as much support and guidance as you need to ensure you claim all the appropriate reliefs, and pay only as much tax on your property rental as you absolutely have too. We'll advise on claimable expenses, jointly let properties, furnished holiday lets, changes to legislation and much more. We can prepare property accounts and also complete your self assessment tax return for you. You'll get peace of mind knowing we have all this covered for you.
So if you own a rental property and want to find out more about what we can do to help, please get in touch. We would love to hear from you, and can arrange a no obligation complimentary consultation to discuss your requirements in detail and determine what it is you need. Why not contact us
today?
The government has announced specific changes to the currently enhanced regime for furnished holiday lets (FHLs).
To qualify as a FHL, properties:
must be available for short-term letting to the public for 210 days and actually let for 105 days or more in each tax year
should not be used as a long-term let of over 31 days for significant periods
The current rules allow for more favourable treatment on mortgage interest, capital allowances, chargeable gains, pension relief, and allocation of profits for properties held jointly by married couples. These rules are to be abolished from 6th April 2025, so if you own a FHL you need to take action now to minimise any impacts.
If you own a rental property and want to find out more about we can help, please get in touch. We would love to hear from you, so why not give us a call to find out more about the accounting, tax, finance and business services we can offer?