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An Overview of the Landlord Tax Returns in the UK

SK Accounting & Tax Services Ltd

Posted 23rd October 2019.

The tax returns process in the UK can be tedious to the landlords residing in the UK as well as outside the UK. The process involves complex steps that might require professional help and service.
The Landlord Tax services provided in the UK are of great help to the landlords residing inside as well as outside the UK.

The taxes that the landlords in the UK are liable to pay are:-
• Stamp Duty
• Income Tax
• Capital Gains Tax
• Inheritance Tax

• Stamp Duty
The residential properties worth £125,000 or more when bought the stamp duty has to be paid. The stamp duty is further classified as 3% on the first £125,000, 5% on £125,001 – £250,000, 8% on £250,001 – £925,000, 13% on £925,001 – £1,500,000 and 15% on more than £1,500,000.
The buyer of land worth £150,000 or more is also liable to pay the Stamp Duty Land Tax.

• Income Tax
The landlords are also entitled to a £1,000 earn less than £12,500 per year, then they need not pay the tax. They get a tax-free property allowance if the income from letting the property is less than £1,000 a year.

• Capital Gains Tax
When an individual sells any property that is not their house, any property that they have bought and sold for the profit purpose, then they need to pay the capital gains tax.

• Inheritance Tax
The capital gains might apply to the sale of the inherited property as well.

The Landlords staying in the UK or outside the country often tends to get depressed with the procedures of filing a tax return.
The SK Accountants and Tax Consultants are based in the UK will help in the process of diminishing the tax.

The tax return accountant would implement a simple and clear roadmap and assist effectively throughout the process. They measure, aggregate and report financial information necessary for positive decision making by organizational managers, owners, investors, government agencies and other users.

They provide top-notch landlord tax return services for a substantial fee that promotes minimal tax liability to the landlords and are an expert when HMRC comes into play.

More Info @ https://skatax.co.uk/tax-planning#taxPlaning

Press Contact

Name: Richard Roberson

Phone Number: 020 3560 3315

Email Address: skatax767@gmail.com