Residential Property Tax Changes

Category: Taxation - Posted On: May 17 2017

Cheryl Whitton and Sandi Drummond from our specialist property tax team are looking forward to exhibiting at The Agency Business conference in Glasgow tomorrow – Thursday 18 May 2017. Pop over and say hello to our team at stand 5 if you are attending.

Individuals who own and let property are now facing significant changes to the way in which their rental income is taxed and also to the deductions they can make from their rents. There are also new increases in certain allowances and additional surcharges due on the purchase of second homes so we would advise you to review your position now to make sure your investments are still viable.

We have prepared factsheets on each of the following topics to illustrate the changes and how they may affect you:

Restricting Loan Interest Relief for Landlords
Replacement of Domestic Items Relief
Rental Property – Allowable Expenses
Land & Buildings Transaction tax – Additional Dwellings Supplement (ADS)
Incorporating your Property Business
Annual Tax on Enveloped Dwellings (ATED)
Rent-a-Room Scheme
IHT – Main Residence Nil Rate Band
All Factsheets

Please contact us by clicking on the headings above to request a factsheet.

If you would like to discuss your individual situation please contact our specialist property tax team on