If you own more than one property you should make an election as to which is your Principal Private Residence.
Proper books and records should be maintained together with a separate business bank account.
Mortgage/loan interest relief is now a complex area. We can discuss the issues and tax consequences of such loans.
A clear distinction should be made between capital expenditure (not allowable against income tax) and revenue expenditure, which is allowable against income tax.
Capital Gains Tax
Capital gains tax needs to be considered.
Type of Letting Property
You need to understand what type of letting property you own. The tax treatment of a holiday let and a residential let can be very different.
Should you operate through a Limited Company or as a Sole Trader or partnership.
We will always discuss with you the various options, advantages and disadvantages. Our objective is to be a part of your team. We will assist when required, offer advice when we see a need and provide friendly support.