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.