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Tuesday, January 03, 2017

FREE landlords tax guide


Landlords across the UK are turning and steeling themselves for submitting their tax return.  Deadline 31st January in case you don’t remember.

Property Hawks updated landlord taxation guide will give you all the information about what your tax liabilities are and how to pay as little tax as legally possible.  Remember tax avoidance is legal and sensible if you are trying to minimise your tax bill; tax evasion is illegal and likely to give you a fast track to the local prison…not advisable.

Landlords targeted by the taxman

Unfortunately, landlords have become increasingly targeted by the taxman as a relatively easy and lucrative tax target.  it hasn’t escaped the Chancellors gaze that many landlords are making record rental profits and for those landlords fortunate enough to own property in the property hotspots of London and the South East they have also seen the value of their rental portfolios rocket in value far beyond the values of other investments.

Landlords local taxation

Added to the national government looking at creaming off these record returns in what could be described as a golden age to be a landlord: then also cash strapped Local Authorities are also seeing the Council Tax as as way of ‘fleecing’ local landlords to pay more than their fair share into the local coffers.

Somebody explain why it makes sense for a Landlord to have to pay 100% of an empty property Council Tax bill when somebody living on their own gets a 25% discount?!  A landlord like me who lives in a different town to their property will not be using any local services on their empty property where as somebody living on there own will be using it all.  Please please can somebody explain the logic in this charging structure.

Added to the Council Tax charges some Local Authorities are effectively taxing landlords whether in self contained or HMO properties by introducing Landlord Licensing which introduces a tax for being a landlord and obtaining a piece of paper to say as much ( a tax through the back door if there was ever one ).

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