The huge success of Airbnb can be measured in Edinburgh city centre by the regular noise of suitcases on wheels being pulled along the streets of the famous James Craig-designed New Town. However the Connect spyware used by HMRC, together with Airbnb themselves ensures that all recipients are on the tax radar. Find out more in our latest post.
The great British buy to let market has been a mainstay of middle class wealth for decades. It has been a safe haven for excess funds; an easy to understand, accessible, liquid asset class which has seen thousands build up a valuable portfolio and in most cases generate additional income. However, this may all be about to change.
With the recent boom in buy-to-let mortgages and property sales, HMRC are clamping down on the estimated 900,000 landlords in the UK who have not registered for self-assessment to declare their profits.
You may have seen the piece yesterday in the Sunday Times Money supplement about HMRC going after people for capital gains tax on the sale of second homes.
Are you a landlord? If so, then it is more than likely that you are either making a profit or a loss from your rented property.
I inherited a house from my mother but the probate valuation has me concerned I’ll be losing out financially. Read this article on the subject.
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