We will keep you up to date with recent developments, so whether you are a landlord, higher rate taxpayer, sole trader or just want to know what is going on in the world of tax you will find it here.

Scottish Tax Rates 2018/19

From 6 April 2018 tax rates for Scottish taxpayers will be taxed differently to those in the rest of the UK.

Starter rate £1 to £2,000 – 19%

Basic rate £2,001 to £12,250 – 20%

Intermediate rate £12,251 to £31,580 – 21%

Higher rate £31,581 to £150,000 – 41%

Top rate £151,001 – 46%

All other rates and allowances will follow […]

March 31st, 2018|

The Property Let Campaign – know where you stand

Knowing what you can and cannot claim as tax relief as a landlord can be confusing.

This can often be the case with mortgage repayments or letting a property out while travelling abroad, for example.

But what many may not be aware of is that the Government is currently running a campaign which allows landlords to declare […]

September 27th, 2015|

Mortgage Interest Relief Changes for Landlords

Landlords can deduct mortgage interest as an allowable expense against rents, relief is given at the marginal tax rate of the landlord, this means a higher rate taxpayer receive a higher amount of relief than a landlord who is a basic rate taxpayer.

From April 2017 relief will be restricted to the basic rate of tax, […]

July 21st, 2015|

Wear & Tear Allowance Consultation

The 10% wear & tear allowance for furnished residential lettings is set to be abolished from April 2016.

Wear and Tear Allowance was abolished on 6th April 2016, it has been replaced with a new repairs and renewals basis, this means on the actual cost of repair or renewing an item can be claimed.

However, if you […]

July 21st, 2015|

Find The Right Mortgage with a Specialist Mortgage Broker

Our clients have often struggled to secure suitable mortgages because of their unique working status. With this in mind we have teamed up with specialist broker Mortgages Made Easy to offer you a straightforward advisory service.

Approaching a bank directly can be very frustrating and stressful for individuals like yourself. Mortgages Made Easy recognised this problem […]

June 25th, 2015|

HMRC Change to Tax Return Late Filing Penalty

HMRC are proposing to make changes to the current penalty regime, although for most the area of concern will be the penalty for late filing a Self Assessment Tax Return.
They acknowledge the current system indiscriminately issues penalties whether the return is one day late or 3 months late the penalty is the same. The appeals […]

June 17th, 2015|

2014/15 Tax Return – that time again!

Where does time go? we are now well into the 2015/16 tax year and you should be thinking about getting your 2014/15 Tax Return in to HMRC. It is one of those things most people keep putting off, and then it is January, still putting it off, then its 31st January, panic.


Preparing and submitting your […]

March 20th, 2015|

Budget News 2015

Personal Tax – Increased allowances, increase in the starting rate for higher rate tax, big tax breaks for those with savings income only and of course the proposed scrapping of the Tax Return as we know it.

Personal Tax – The rates of tax across basic rate, higher rate and additional tax remain unchanged. The personal […]

March 19th, 2015|

Principal Private Residence rules to be scrapped

The Government is planning to withdraw rules allowing people with more than one home to elect which home should be considered their main home for capital gains tax purposes.

This forms part of the proposals to implement a capital gains charge on non UK-residents selling UK assets, section 3 of the HMRC consultation document suggests the […]

July 9th, 2014|

HM Revenue & Customs Let Property Facility

Have you become an ‘accidental’ landlord? maybe you inherited a house or you have let your main home out while waiting to sell it, perhaps you have moved abroad or are working overseas and have let out your UK home out on a temporary basis. Many people mistakenly believe that if their expenses exceed their […]

April 12th, 2014|