Category: Articles

Capital Gains Tax (CGT) on the sale of UK residential property can result in substantial tax liabilities, particularly where there has been a significant increase in value over time. However, Principal Private Residence Relief (PPR), governed by sections 222 to 226B of the Taxation of Chargeable Gains Act 1992 (TCGA 1992), may eliminate or substantially… Continue reading Principal Private Residence Relief

From April 2026, HMRC will begin the phased rollout of Making Tax Digital for Income Tax Self Assessment (MTD ITSA). These changes will affect many sole traders and landlords and represent a significant shift in how income tax is reported and managed in the UK. The changes are outlined in HMRC’s technical note published in… Continue reading Making Tax Digital for Income Tax: Key Changes Ahead for Sole Traders and Landlords

If you’re a landlord who has received income from residential property that hasn’t been fully declared to HMRC, now is the time to act, and act wisely. The Let Property Campaign is HMRC’s long-running initiative designed to encourage landlords to bring their tax affairs up to date. It offers those who come forward voluntarily the… Continue reading Undeclared Rental Income? Why Now Is the Time to Come Clean with HMRC

Introduction The first Budget of the Labour government, as anticipated, brought fundamental changes to the way that internationally mobile individuals will be taxed in the UK from the financial year starting on 6 April 2025. The  financial year 2024/25 is the final year in which remittance basis claims can be made. However, it is essential… Continue reading Changes to Taxation for Non-UK Domiciled Individuals

Introduction The 2024 Autumn Budget introduced a significant reform to Inheritance Tax (IHT), moving from a domicile-based framework to a residence-based system from 6 April 2025. Under the new rules, individuals who meet the criteria of long-term UK residents will be subject to UK IHT on their worldwide assets, regardless of their domicile status. Additionally,… Continue reading The UK’s New Inheritance Tax System: The Shift to a Residence-Based Approach and the Role of Double Taxation Treaties