As already outlined, the basic rule is that non-residents are fully liable to UK tax in respect of their UK income. However, this is displaced in the case of what is called 'disregarded income'. Disregarded income consists principally of dividends and interest; it does not include rental inc...
The Finance Bill announces the abolition of the Furnished Holiday Lettings (FHL) regime, marking the end of beneficial tax treatment for holiday rental properties. This significant change, effective from April 2025, removes a longstanding tax advantage that treated qualifying holiday lets as trading r...
The home entertainment system is owned by the company and it is use of asset by the employee therefore you need to calculate 20% of the market value of the asset when first provided. Log in to Reply Dead0k says July 13, 2024 at 7:36 pm In the UK, the tax treatment of bonuses rec...
For example, a non-resident will usually pay no UK tax on UK source interest, UK dividend income or UK capital gains. However, bear in mind that the UK does retain a right to tax UK rental income and UK capital gains which relate to the sale of UK real estate, whether the direct sa...
The tax treatment of income can be a complex area and it is advisable to seek specialist advice as the rules regarding residence in and out of the UK can be complex. HMRC’s guidance note RDR3 – statutory residence test, sets out to help define whether an individual is resident or non...
The tax treatment of dividends from legitimate small businesses was different *for a reason*. Proper small businesses have to take care of all kinds of things that companies’ take care of for their own employees, and employees have all sorts of rights and financial safeguards that you don’t...
The article compares tax treatment of corporate debt for borrowers in Ireland and in Great Britain. In contrast to Great Britain, borrowers in Ireland are govern by general tax rules covering either trading expense, charge on income or deduction against income for a property rental business. The ...
As a non-resident expat you’re subject to tax on UK-source income only, such as rental income from UK properties or UK pension income, for example. Where you are subject to UK income tax, the amount you pay will depend on the level of your income, which falls into each of the ta...
Business rates are calculated by multiplying your property’s ‘rateable value’ by the tax rate, or ‘multiplier’. The ‘rateable value’ of your property is based on an estimate of its open market rental value on a specific date. The ‘multiplier’ is typically expressed in pence. In ...
Should I pass my rental properties to my children? We are concerned about their level of tax exposure Save May 5 2023 Serious MoneyClaer Barrett The granny tax: coming to a family near you Number of people paying inheritance tax soars 24 per cent in a year as house prices rise Save ...