Greater London Properties Landlords

Greater London Properties Landlords - UK Taxation Update

Greater London Properties interview trusted advisor Matthew Sutton, Partner at Burgess Hodgson about UK Property Rental taxation.

It is hard to stay up to date as a Landlord as to what you can and cannot claim therefore, we thought it was important to put together a few key questions and direct them to our trusted advisor, Matthew Sutton at Burgess Hodgson.

Greater London Properties offer Landlords a full service when it comes to advice therefore, we hope you find this particular article and interview both knowledgeable and helpful.

The below areas are covered in the interview which can be watched here:

1. What are the tax implications of renting out my property?

2. What tax deductions can I claim as a landlord? Wear and tear, EA fees

3. How is rental income taxed and at what rate?

4. Are there any specific tax advantages or disadvantages I should be aware of when owning and renting multiple properties?

5. How can I take advantage of the depreciation on my rental properties?

6. Are there tax implications when selling rental properties? If so, how can I mitigate them?

7. What are the tax implications if I live in my rental property part-time or full-time?

8. Can I deduct property management fees from my tax bill?

9. How can I structure my rental properties for optimal tax benefits?

10. If I decide to convert my rental property to my primary residence, what are the tax consequences?

11. What is the tax treatment of expenses for improvements vs. repairs on my rental property?

12. How do estate or inheritance taxes apply to my rental properties?

13. How are foreign rental income and properties taxed?

This is general tax advice based on the guidelines on the date of recording 13th July 2023.

If you would like to speak to a member of our Residential Team about a Property Valuation or simply have a question about renting out your property, call us on 0207 734 4062.

Warmest Regards

Kate Hill, Director

Greater London Properties, www.glp.co.uk

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