The first of October is only days away and (apart from the usual pinch-and-a-punch) things are about to get a whole lot uglier if you buy and sell property regularly. We won’t bore you with the new legislation, which is mind bending and best left to Chartered Accountants, but practically speaking there’s a couple of smart things worth knowing:
If you’re new to the rental property game then here’s some invaluable tips to get you started on the right foot, get the most tax back and keep your accounting bills down:
“I’ve had a holiday, and I’d like to take it up professionally” so it’s rather cruel that my profession is far more concerned with the tax laws surrounding holiday homes than the actual holiday part. Moreover, there have been so many changes to the tax laws lately that any decent accountant should be gasping for a holiday by now.
So what are the tax changes that you, as a holiday home owner, need to know about if you rent out your bach, crib or pocket-sized palazzo? Continue reading Renting your holiday home tax changes