Keeping records of rental income and expenses

Property Expenses

Keeping records of rental income and expenses Unless rental income is less than £1,000, landlords must declare it to HMRC and pay tax on any profit made by the property rental business. The profit can be calculated by deducting allowable expenses from rental and other income of the property business. However, where it is beneficial …

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Stamp-Duty guidance - SN Accountants Romford Essex

Putting property in joint name – beware a potential SDLT charge.

There are a number of scenarios in which a couple may decide to put a property which was previously in sole name into joint names. This may happen when the couple start to live together, get married or enter a civil partnership. Alternatively, it may occur if the couple take advantage of the capital gains tax no gain/no …

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Simple calculation for home based business. Advice by SN Accountants, based in Romford, Essex.

Simplified deductions where your business is based at home.

Simplified deductions where your business is based at home  Many small businesses are run from home. Where a business is run from home, household costs will be incurred which are attributable to the business. These may include additional costs of gas and electricity to provide heat and light to the home office or workshop and …

Simplified deductions where your business is based at home. Read More »