Capital Gains Tax Payment for Property Disposals

From April 2020 HMRC is changing the rules related to the submissions of information and payment of Capital Gains Tax (CGT) due on the disposals of a UK residential property (other than a principle private residence). The tax due must be reported and paid to HMRC within 30 days of completion of the disposal. Non-UK Read more about Capital Gains Tax Payment for Property Disposals[…]

uk-sic-codes Rashid Accountants

Standard industrial classification of economic activities (SIC)

Code Description Section A Agriculture, Forestry and Fishing 01110 Growing of cereals (except rice), leguminous crops and oil seeds 01120 Growing of rice 01130 Growing of vegetables and melons, roots and tubers 01140 Growing of sugar cane 01150 Growing of tobacco 01160 Growing of fibre crops 01190 Growing of other non-perennial crops 01210 Growing of Read more about Standard industrial classification of economic activities (SIC)[…]

Restricting finance cost relief for individual landlords

Who is likely to be affected Individuals that receive rental income on residential property in the UK or elsewhere and incur finance costs (such as mortgage interest), excluding where the property meets all the criteria to be a furnished holiday letting. General description of the measure This measure will restrict relief for finance costs on Read more about Restricting finance cost relief for individual landlords[…]

Let Property Campaign – Gives residential landlords the opportunity to bring their tax affairs up to date

You can report previously undisclosed taxes on rental income to HMRC under the Let Property Campaign if you’re an individual landlord renting out residential property. This includes you if you’re: renting out a single property renting out multiple properties a specialist landlord, eg student or workforce rentals renting out a room in your main home Read more about Let Property Campaign – Gives residential landlords the opportunity to bring their tax affairs up to date[…]