A heads-up for sole traders and landlords: the way many people report their taxes to HMRC is changing. Under Making Tax Digital (MTD) for Income Tax, the days of keeping a folder of receipts and dealing with everything once a year are gradually coming to an end. Instead, you’ll need to keep digital records and … Continue reading
If you are resident in the UK and you inherit a property overseas, you are liable to tax on any income you receive from it, for example, rental income. If you have a property overseas and sell it, you are liable to CGT on the gains. The rate you pay depends on your other UK-taxable … Continue reading