Questions in Taxation
- I want to gift my property to my children but I need to keep living in my home. I would also consider gifting some investment property, but would still need to receive the rental income. Is it possible to do this without a massive tax bill? Would I need to set up a trust?
- Non-Resident Tenant - I let my property for 6 months on an AST but my tenant has not entered the property. The tenant is paying rent but how do I stand with my tenant, Council Tax, utilities bills and the Tenancy Deposit Scheme?
- Council Tax - I have let my property for less than 6 months and now the council are telling me that I, as landlord, am liable for the Council Tax, not the tenant. Can this be right? I would not have let for less than 6 months if I had known this.
- Should I buy residential buy-to-lets in my own name or form a company?
- I understand that Capital Gains Tax (CGT) on property sales has undergone some changes since April 6, 2008. How do I calculate my CGT liability after this date?
- How long do I need to keep my accounts, invoices and tax records as a property landlord?
- Rent a Room Scheme - I intend to let a room in my home to a lodger. Do I have to declare the income I receive to HMRC and if so how will this be taxed?
- Tax Deductions - What deductions and expenses can I claim against my rental income?
- Taxation of Property Income - I have recently puchased a second home and have let it to tenants; do I need to declare my rental income and what might I have to pay?