Property taxes can be intricate, and among all the other responsibilities that landlords have, like finding appropriate tenants and ensuring their properties meet required standards, it's common for taxes to be overlooked or misunderstood
This free, landlord tax guide provided by Accord Mortgages and shared with the E.L.A by our trusted mortgage broker partners is a valuable resource for anyone looking to gain a broad, basic understanding of property taxation. Whether you are a first-time landlord or a seasoned investor, this guide offers insights into various aspects of property taxation, shedding light on key considerations that can impact your financial decisions.
The guide explores basic topics such as the tax implications of investment properties and will help readers with the knowledge needed to navigate the complex landscape of property taxation.
#1 - Stamp Duty
#2 - Income Tax
#3 - Relief for Expenses
#4 - Repairs or Improvements
#5 - Capital Gains
#6 - VAT
#7 - Corporation Tax
#8 - ATED
Understanding the basics of property taxes is essential for any property owner. By having a clear awareness of the various taxes that may be applicable to your properties, you can effectively plan and manage your portfolio.
Property taxes are a significant aspect of property ownership and different types of taxes, such as income tax, capital gains tax, and inheritance tax, can impact your financial decisions as a property owner. By staying informed about these taxes and understanding how they apply to your properties, you can make informed decisions to enhance your investments and ensure compliance with tax laws. Additionally, being proactive in managing your tax liabilities can help you avoid any unexpected financial burdens and maximise the returns on your property investments in the long run.
Download your free guide here.
Please note the information is correct at the time of publishing: 02/07/2024
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