How to claim relief for excess interest
Landlords running an unincorporated property business obtain relief for interest and finance costs incurred in relation to residential lets (including holiday lets) as a tax reduction. The tax reduction is…
Cash basis for landlords
As for unincorporated trading businesses, the cash basis is the default basis of accounts preparation for landlords running an unincorporated property business. However, unlike traders, landlords can only use the…
Utilising the property allowance
The property allowance is essentially an additional personal allowance for income from property. It allows individuals to enjoy property income of up to £1,000 each tax year free of tax…