PROPERTY LETTING AND DISPOSAL

The course is dedicated to land lords who are letting or selling properties which means are required to complete tax returns every year.  It consists of theoretical and practical parts:

Theoretical part is visual presentation with a voice over that explains essential topics required to calculate a tax liability for property letting and selling businesses.

 

 

 

Topics included are:

• Essential introduction to tax return
• Registration and Activation of free online software
• Introduction to property tax return

LETTING AN ENTIRE HOME

• Taxable income calculation steps
• Property letting expenses
• Wear & Tear and Renewals Allowances

LETTING PART OF YOUR HOME TO A LODGER

• Income from lodger below or above £4,250
• Claim Expenses or Rent a Room Relief
• Letting to lodger expenses

CAPITAL GAINS TAX (CGT) ON DISPOSAL OF PROPERTY

• Introduction to CGT on disposal of property
• Disposing your main home
• Disposing not main home
• 5 steps to calculate CGT on property disposal

 

Practical part is live videos with a voice over showing and explaining how to use free HMRC software to complete and submit tax returns for most popular property letting and selling cases.

Practical examples include situations where:

EXAMPLE 1: Property income (made Net profit below £2,500) & Employment income (self assessment not required)

EXAMPLE 2: Property income (made Net profit above £2,500) & Employment income (self assessment required)

EXAMPLE 3: Property income (made loss) & Employment income (self assessment required)

EXAMPLE 4: Property income (made profit) & had Self Employment income (made profit) (self assessment required)

EXAMPLE 5: Let room to a lodger (claim Rent a Room Relief) & had Employment Income (self assessment required)

EXAMPLE 6: Let room to a lodger (claim Expenses) & had Employment Income (self assessment required)

EXAMPLE 7: Made gain from selling not main home & had Employment income