Fylde Tax Accountants

tel: 01253 398082

Property Articles

Post-Clause 24 – what should I do with my properties?

First Published: Jan 2016 | Available in: Property Articles Your Property Network

By specialist property accountant Stephen Fay ACA

Clause 24 is the legislation that has now been given Royal Assent and so will mean restricted mortgage interest relief for landlords from April 2017 to the Basic Rate of income tax (20%), albeit on a sliding scale for 4 tax years to 2020-21. (See previous articles on this topic in YPN, and on our website).

As a result, for those landlords who don’t wish to (or are unable to) fully-incorporate their portfolio – see next month’s article – there is now the unenviable and unforeseen task of having to re-assess whether each rental property held makes sense to be retained personally with a mortgage, given the potentially punitive tax chargeable to do so.
Continue Reading »

Using the Personal Savings Allowance from April 2016

First Published: Dec 2015 | Available in: Property Articles Your Property Network

By specialist property accountant Stephen Fay ACA

A new Personal Savings Allowance (PSA) is being introduced from April 2016, which could have some useful benefits to property investors who also lend money, and for those with a significant credit balance on any director’s loan account they may hold. This article explains how to make use of the PSA, and how to communicate the value to JV investors.
Continue Reading »

Can capital allowances be claimed on a HMO – the definitive answer

First Published: Nov 2015 | Available in: Property Articles Your Property Network

By specialist property accountant Stephen Fay ACA

Many investors are confused about whether capital allowances can be claimed on residential properties, and in particular, HMOs. This article aims to clarify the current position (at October 2015) so that investors have clarity about whether capital allowances are claimable on their HMO property. Continue Reading »

How to use funds in your non-property company to tax-efficiently fund your property investing

First Published: Sep 2015 | Available in: Property Articles Your Property Network

By specialist property accountant Stephen Fay ACA

Most property investors have a ‘day job’ limited company – whether a contractor / consultant company, or a more traditional business – which has excess cash that can’t be extracted without incurring at least an 25% tax charge. This article looks at how such funds can be used for property investing, without incurring a tax charge. Continue Reading »

Mortgage interest relief restricted for landlords – part 1: Are you affected?

First Published: Jul 2015 | Available in: Property Articles Your Property Network

By specialist property accountant Stephen Fay ACA

The July 2015 Budget saw several key changes that will impact landlords in the future – by far the most important is the restriction on mortgage interest relief. This article explains the change, and enables readers to check if the affects them and approximately by how much, and provides some initial pointers as to how to mitigate the impact of this change. Continue Reading »

Are lender arrangement fees tax deductible for landlords?

First Published: May 2015 | Available in: Property Articles Property Investor News

By specialist property accountant Stephen Fay ACA

Most property investors use mortgage finance to buy their properties, and so have to pay a range of lenders fees – as well as interest – in order to do so.

This article looks at whether finance fees (NOT interest – this is covered next month) are tax deductible, and how relief can be obtained. Continue Reading »

Getting a tax deduction for employing your children in your property business

First Published: May 2015 | Available in: Property Articles Your Property Network

By specialist property accountant Stephen Fay ACA

Many property investors need help with managing their business, and involving their children has a number of potential benefits, both financially and otherwise.

This article looks at how investors can get a tax deduction for employing their children, or child in their property business, and how to ensure that this is done lawfully.
Continue Reading »