Inheritance Tax- the Residence Nil Rate Band and downsizing

August 02, 2017 | by Sian Kelly | No comments

The residence nil rate band (RNRB) is an additional nil rate band, which is available where a death occurs on or after 6 April 2017 (or, in the case of married couples and civil partners, the death of the second spouse/civil partner occurs after that date) and the property is left to direct descendants.

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Property development- investment vs trading

June 23, 2017 | by Sian Kelly | No comments

For many, buying a property, doing it up and selling it for a profit is an attractive proposition. However

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How is rental income taxed on jointly owned property?

April 10, 2017 | by Sian Kelly | No comments

The situation where a married couple or civil partners jointly own an investment property that they let out is a familiar one, but when it comes to the rental income, special rules apply.

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Inheritance tax- residence nil rate band (RNRB)

March 28, 2017 | by Sian Kelly | No comments

From April 2017, a new nil rate band – the residence nil rate band (RNRB) – is available for inheritance tax purposes. It increases the amount that can be left free of inheritance tax when the estate includes a residence (or a share in a residence) that is left to a direct descendant.

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Interest relief for lettings – the transitional period

March 24, 2017 | by Sian Kelly | No comments

The mechanism by which landlords receive tax relief for interest and other finance costs is changing from April 2017 … and not for the better. The current rules are more generous than the new rules in that they enable the landlord to receive tax relief at his or her marginal rate of tax.

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What is lettings relief?

January 20, 2017 | by Sian Kelly | No comments

Lettings relief increases the amount of the gain that is sheltered from capital gains tax when you sell a property which has at some time been your only or main residence, and in respect of which some private residence relief is due.

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