Rent received from your personal company
Where a personal company is run from the director’s home, the payment of rent by the company for the use of the space can be a handy way of extracting…
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…
Capital expenditure and the cash basis
The cash basis is the default basis of accounts preparation for landlords with annual rental income of £150,000 or less running unincorporated property businesses. Under the cash basis, income is…
Extracting profits as rent
Where a business is run through a personal or family company, the directors/shareholders will need to extract profits if they are to be used personally. There are various ways in…
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…