Owner-Managed Businesses Guidance

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Property businesses

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Latest Guidance
OMB_tax_img7
28 Jun 2019

OutlineFor income tax purposes, all rental income from UK property is pooled and taxed as a ‘UK property business’ under the provisions of ITTOIA 2005, Part 3. For...

OMB_tax_img6
28 Jun 2019

The grantWhere a lease for a term exceeding 50 years (a long lease, which is not a wasting asset) is granted, in return for a premium, out of a freehold interest or...

OMB_tax_img2
28 Jun 2019

The rent-a-room scheme was introduced in the early 1990s to encourage homeowners to take in lodgers.Fundamentally, the rent-a-room scheme is a relief which provides that...

OMB_tax_img2
28 Jun 2019

OutlineWhen a property investor grants a lease, the tenant may pay an up-front sum, a premium for the initial grant of the lease, in addition to also paying rent over the...

OMB_tax_img8
28 Jun 2019

OutlineProperties let at an uncommercial rent are also called nominal leases or peppercorn rents. This is the case where the owner of the property rents the property at a...

OMB_tax_img4
28 Jun 2019

OutlineA ‘company with investment business’ is, as the name suggests, a company whose business consists wholly or partly of making investments (see CTA 2009, s 1218B)....

OMB_tax_img7
28 Jun 2019

OverviewThe purchase of a property abroad will always be complex as at least two different jurisdictions’ laws will need to be dealt with when considering the tax...

OMB_tax_img8
28 Jun 2019

Whether or not a property qualifies as a furnished holiday let (FHL) can make an important difference to the taxation implications. In particular, the commercial letting...

OMB_tax_img8
28 Jun 2019

OutlineFor income and capital gains tax purposes, partnerships are regarded as being tax transparent ― ie they are not taxed in their own right but instead taxation is...

OMB_tax_img8
28 Jun 2019

Loan relationship rulesSince the introduction of Finance Act 1996 (subscription sensitive), interest payments for a limited company fall under the loan relationship...

Latest Guidance
OMB_tax_img7
Owner Managed Business

OutlineFor income tax purposes, all rental income from UK property is pooled and taxed as a ‘UK property business’ under the provisions of ITTOIA 2005, Part 3. For...

OMB_tax_img6
Owner Managed Business

The grantWhere a lease for a term exceeding 50 years (a long lease, which is not a wasting asset) is granted, in return for a premium, out of a freehold interest or...

OMB_tax_img2
Owner Managed Business

The rent-a-room scheme was introduced in the early 1990s to encourage homeowners to take in lodgers.Fundamentally, the rent-a-room scheme is a relief which provides that...

OMB_tax_img2
Owner Managed Business

OutlineWhen a property investor grants a lease, the tenant may pay an up-front sum, a premium for the initial grant of the lease, in addition to also paying rent over the...

OMB_tax_img8
Owner Managed Business

OutlineProperties let at an uncommercial rent are also called nominal leases or peppercorn rents. This is the case where the owner of the property rents the property at a...

OMB_tax_img4
Owner Managed Business

OutlineA ‘company with investment business’ is, as the name suggests, a company whose business consists wholly or partly of making investments (see CTA 2009, s 1218B)....

OMB_tax_img7
Owner Managed Business

OverviewThe purchase of a property abroad will always be complex as at least two different jurisdictions’ laws will need to be dealt with when considering the tax...

OMB_tax_img8
Owner Managed Business

Whether or not a property qualifies as a furnished holiday let (FHL) can make an important difference to the taxation implications. In particular, the commercial letting...

OMB_tax_img8
Owner Managed Business

OutlineFor income and capital gains tax purposes, partnerships are regarded as being tax transparent ― ie they are not taxed in their own right but instead taxation is...

OMB_tax_img8
Owner Managed Business

Loan relationship rulesSince the introduction of Finance Act 1996 (subscription sensitive), interest payments for a limited company fall under the loan relationship...