The 2 Year Rule
When you sell a property you’ve “lived in” the whole time, you don’t normally expect to pay tax when you sell it, do you? Typically nowadays you can make a gain and most people know that it’s not taxable. But what if you don’t actually move in straight away? This may...
The Twin Tax Bombshells – coming to a street near you this April…
Back in April 2019 we mentioned some further tax traps if you are resident in the UK and you exchange contracts to sell a residential property from 6 April 2020…..? Bombshell Number One If you lived somewhere either before or after you let it out to someone else there...
The Financial Problems of Leaving With No Deal
Got a No Deal Brexit? Get a Package of Problems! If the UK leaves the EU without a deal, some important changes are being put forward by HMRC about the tax paid for parcels from abroad. These changes would affect most of us, whether we run a business or buy goods as...
More Tax Traps for Home Owners
All Around the Houses, Once Again! In our last blog on this topic, we looked at what can happen when you think that the house you’ve sold at a gain is tax-free and you get it wrong. Normally when you live in a house that you own, selling it with a gain will usually be...