Property 2/2

Dec 25, 20192 min

Give away £3,000 IHT-free each year.

There are various exemptions for inheritance tax purposes which enable a person to make tax-free gifts. One of the more useful is the...

Dec 25, 20193 min

Inheritance tax – making tax-free gifts

There are various exemptions, and potential exemptions, which make it possible to make gifts free of inheritance tax. Making tax-free...

Dec 25, 20192 min

Cash basis for landlords – when does it apply?

The cash basis simply takes account of money in and money out – there is no need to worry about debtors and creditors and prepayments and...

Dec 25, 20193 min

Residence nil rate band

Residence NIL Rate Band and downsizing The residence nil rate band (RNRB) is an additional nil rate band, which is available where a...

Dec 25, 20192 min

Private lettings relief

Lettings relief potentially shelters some of the gain from capital gains tax on the disposal of a property which has been an only or main...

Dec 25, 20192 min

A quick overview of capital gains tax

Capital gains tax is payable on net gains to the extent that they exceed the annual exempt amount. Capital gains tax is a tax on the...

Dec 25, 20192 min

Making money from your spare room

Under the rent-a-room scheme, it is possible to earn tax-free income from letting out a furnished room in your own home to a lodger. You...