Autumn Statement 2016 – RITA4Rent’s View

Philip Hammond has just delivered his first Autumn Statement, giving us a good idea of the shape of things to come.  RITA4Rent are blogging today with their rough initial thoughts and notes.   A lot of landlords were clinging on to the pipe dream today that Section 24 would be reversed or watered down, especially

Let Property Campaign – Exclusive 2016 Figures

RITA4Rent have spoken with HMRC and exclusively obtained the latest figures from the Let Property Campaign.  The latest figures report up to 30th June 2016, and these show that HMRC have received £92 Million from landlords relating to past unpaid tax.  We can also reveal that 13,000 landlords have come forward under the campaign. HMRC’s

The Unreported Dangers of Clause 24

Today, RITA4Rent wish to criticise the Clause 24 changes, not least for the common reasons, but also for those unreported dangers we hope to raise awareness on. Whilst everyone has been focusing on the additional tax that may be payable following the changes to finance costs claims, better known as Clause 24, there is something

RITA4Rent Latest News – Weekly Round Up 13 May 2016

It has been a busy week, and we round up the week’s property news in today’s blog. It feels as if you cannot avoid the EU referendum in the news these days, with the big day only just over a month away now.  Whilst we have been promised a consultation on the Government’s so called

HMRC Let Property Campaign – Latest News

To celebrate approaching the half-way point of the Let Property Campaign, HM Revenue and Customs have this week sent out a further 2,000 letters to landlords they know have not been declaring their rental profits. This will be followed by thousands more, as the trend has moved towards more regular send outs as opposed to

The 7 Dangers of a DIY Tax return

This article explores some of the risks of DIY Tax returns and demonstrates how instructing professional property and landlord tax advisors such as RITA4Rent helps you avoid these risks from occurring. Financial Cost Perhaps one of the most common reasons for doing a tax return yourself is not wanting to pay the costs of instructing

Inheritance Tax – FAQs

As Benjamin Franklin famously stated, “In this world, nothing can be certain except death and taxes.” This is a perfect introduction to the world of Inheritance Tax. Our feature explores 5 FAQs giving readers a general grounding in the area.   “So what exactly is inheritance tax? I thought this was just a tax on

Important Let Property Campaign Update

It has come to our attention that from today (9 April 2015), HMRC now allow the 2013/14 tax year to be submitted as part of your Let Property Campaign DO2 disclosure.  Prior to today, you could only report taxable profits up to 5th April 2013 with the year ended 5th April 2014 being reported via

Big Increase In Tax Collected under HMRC Let Property Campaign

We have recently reported that the HMRC Let Property Campaign was set to intensify, and this has been recently proved by the latest results from HM Revenue and Customs. As at 30th October 2014, just £7.8m had been recouped, but just three months later, as at 31st January 2015, this figure has significantly risen to

Let Property Campaign Client Testimonial February 2015

Here at RITA4Rent, we recently received a very kind testimonial, from a client we assisted from beginning to end with regards the HMRC Let Property Campaign. As well as guiding our client through the entire process from notification right through to final disclosure, we also generated excellent tax savings. Our client has kindly allowed us