Property Letting

There are various tax implications associated with property letting:

• Income Tax on the rental income
• Capital Gains Tax on the gain arising from sale of the property
• Inheritance Tax
• Stamp Duty
• Corporation Tax if the properties are held in a company.

Just some of the questions to ask before and during the rental process:

• Should you own the properties personally or through a company?
• Has the property been, or likely to be your main residence?
• What expenses can you claim against rental income?
• What reliefs are available against Capital Gains Tax?

We can advise at any stage, and help with completion of your tax return and calculation of the tax liability.