What Kind of Taxpayer Am I and How Can I Save Money on Rental Tax?

This is a very common question in the world of rental tax. In this blog I will be exploring the topic of rental tax and how it affects you.   How tax is calculated on rental income? The income from rental properties is taxable in the UK. The tax paid on the rental income is […]

Are you refurbishing your new buy to let property?

refurbishing

When properties are purchased, one of the first thing that is planned is refurbishment. These refurbishing done may have different types of tax implications depending on the work done. The refurbishment could either have capital or revenue nature. Difference between capital works and revenue refurbishment. The difference between capital and revenue refurbishment relies mostly on […]

THE SELF-ASSESSMENT SYSTEM IN THE UK

Self-assessment system in Uk

Self-assessment system is used by the HMRC to administer and collect tax from taxpayers in the UK. Most UK taxpayers’ tax is collected at the source, however, some taxpayer under this system have to administer their tax by themselves. If not administered well, they are given penalties and made to pay interest on unpaid tax. […]

Taking the offer before it is too late

By Ola Sulaimon IN the UK, individuals that earn income from letting property normally pay tax on their rental income. The tax would be applied on the rental profit rather than the rental income. At Ronzl accounting firm in the United Kingdom, we also support individuals that are trying to take advantage of the property […]

What Landlord Ought To Know About Rental income in UK.

Rental Income

Landlords receive rental income from renting out properties in the UK. The landlord has to pay income tax on the profit from the rental income. This affects both residents and non-residents of the UK. What to do if you start receiving Rental Income from a UK property. The first step is to disclose this to […]