Welsh Land Taxes Archives

Jun 07 2023

VAT On Land & Buildings

By admin HMRC, Option To Tax (OTT), Potts & Co Accountancy & Business Advice News, Property, VAT, Welsh Land Taxes

When purchasing commercial premises you need to know whether VAT will be added to the price as the stamp duty land tax charge (or similar taxes in Wales or Scotland) is calculated on the VAT-inclusive value. Most older commercial buildings will be exempt from VAT but not if the owner…

Jun 06 2019

Selling a Let Property

By admin Income Tax, Potts & Co Accountancy & Business Advice News, Property, Welsh Land Taxes

Many landlords are deciding to sell their residential properties. From 6 April 2020 none of the interest and finance charges relating to those properties can be deducted from the rental income. Instead the landlord receives a tax credit equal to 20% of the interest to set against their income tax…

Sep 11 2018

Reclaim SDLT, LTT or LBTT

By admin Personal Tax, Potts & Co Accountancy & Business Advice News, Welsh Land Taxes

If you have acquired a new home since 1 April 2016 you should be aware of the 3% stamp duty land tax (SDLT) supplement which applies to purchases of second and additional homes. This 3% supplement was copied in Scotland for land and buildings tax (LBTT) and in Wales for…

Mar 10 2018

Welsh Land Taxes

By admin HMRC, Potts & Co Accountancy & Business Advice News, Property, Welsh Land Taxes

If you are about to buy a property in Wales, you need to consider the new land transaction tax (LTT) that comes into effect for all property deals which complete on or after 1 April 2018. The LTT replaces stamp duty land tax (SDLT) and in general, its rates are…

Welsh Land Taxes

VAT On Land & Buildings

Selling a Let Property

Reclaim SDLT, LTT or LBTT

Welsh Land Taxes

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