Capital Gain Tax on property disposals to be paid within 60 day window


CGT on property disposals to be paid earlier. From April 2020, UK residents disposing of second properties are required to report the sale and pay any resulting tax within 60 days of completion (previously 30 days). The rules do not apply to main residences which are covered by the Principal Private Residence Relief, sheltering the full gain from tax. For … Read More

Rent a Room Relief

Rent a Room Scheme – boosting your tax-free income With the explosion in Airbnb lettings and other similar initiatives, it’s worth remembering that since April 2016, up to £7,500 of rental income can be earned tax-free under the government’s ‘Rent a Room’ scheme. This is an optional scheme available to occupiers or tenants who rent out a furnished room or … Read More