Are capital gains tax rates about to increase?
Simply put, capital gains tax (“CGT”) is paid when an asset, other than your main residence, is sold at a profit. Currently there are four rates of CGT being 18% and 28% on UK residential property and 10% and 20% on all other assets (the rates depending on whether the taxpayer pays basic or higher […]
Property expenses: Don’t ask HMRC?
Taxpayers such as buy-to-let landlords often seek advice from HM Revenue and Customs (HMRC). This is generally sensible, particularly if the taxpayer does not have a professional adviser. However, things can sometimes go wrong, and caution is needed. Misunderstandings can easily arise. Pre-letting expenses For example, in Negka v Revenue and Customs [2019] UKFTT 0082 […]