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Vol 25 No 1 Jan/Feb 2020

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Buy-To-Let Property Tax Handbook 2nd ed

ISBN13: 9781526509420
Previous Edition ISBN: 9781784510541
Published: August 2019
Publisher: Bloomsbury Professional
Country of Publication: UK
Format: Paperback
Price: £120.00

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Buy to Let Property Tax Handbook, 2nd edition provide tax advisers with guidance about the key issues and tax planning opportunities that BTL property owners need to be aware of whilst running their business.

It follows the logical sequence from the commencement through to the cessation of the residential rental property business and covers the taxation issues that might apply. It also offers helpful guidance on the legal aspects of buying and selling a BTL property, as well as landlord obligations to tenants.

This new edition has been updated in line with the 'cash basis' measure for small unincorporated property businesses (F(No 2)A 2017), and the introduction of the £1,000 property (and trading) allowance (F(No 2)A 2017).

Other legislative changes relevant depending on the landlord's circumstances that are covered are the following:

  • IHT and UK residential property held by overseas structures (F(No 2)A 2017) corporation tax: carried forward losses and loan interest relief restrictions (F(No 2)A 2017)
  • SDLT: increased rates on additional dwellings (FA 2018) and the new Land Transaction Tax in Wales.
Changes bought in by Finance Act 2019 are also covered. The draft clauses include the following
  • Changes to the territorial scope of corporation tax and CGT (including payments on account) for non-UK residents individuals and companies
  • Changes to rent-a-room relief
  • Changes to SDLT periods for delivering returns and paying tax
  • CGT reporting and payment on account obligations for UK residential property gains UK residents.

1: Commencement of a property business
2: Calculating property business profits and losses
Appendix A: What expenses can be claimed for a buy-to-let property business?
3: Finance cost relief restrictions
4: Capital allowances
5: Furnished lettings
6: Furnished holiday accommodation/lettings
7: Loss relief
8: Jointly-owned properties
9: Non-resident landlords
10: Corporate landlords
11: Capital gains tax
12: Inheritance tax
13: Incorporation of a buy-to-let residential property business
14: Stamp duty land tax and land and buildings transaction tax
15: Other issues

16: Buy-to-let mortgages
17: Dealing with tenants and agents
18: Landlord obligations
Appendix B: Essential checklist for new landlords and new properties