Property Income Tax

Effortlessly Simplifying Property Income Tax for Maximum Returns.

Property Rental Income and Tax Obligations:
If you earn income from property rental, it is essential to report it to HMRC under the following thresholds:

£2,500 to £9,999 after allowable expenses.
£10,000 or more before allowable expenses.

How Groopacc Taxation Can Help ?

At Groopacc Taxation, our experts provide tailored advice and solutions to help individuals and businesses effectively manage property-related taxes. Our areas of expertise include:

Stamp Duty:

Guidance on stamp duty issues, changes, and updates.

Mortgage Interest Relief:

Advising on recent changes to mortgage interest relief.

Transactional Advice:

Comprehensive advice on property transactions.

Mortgage Review:

Organizing and reviewing mortgage arrangements.

Joint Property Ownership:

Tax planning for properties owned jointly to ensure efficient tax treatment.

Inheritance Tax Planning:

Strategic advice involving property and estate planning.

Comprehensive Property Tax Advice:

Planning and consultancy for residential and commercial properties.

Property VAT:

Planning and advice on VAT implications for property transactions.

Limited Company Holdings:

Guidance on holding properties in a limited company and associated mortgage considerations.

Non-Resident Landlords (NRL):

Assisting non-resident landlords with UK property tax obligations.

Furnished Holiday Lettings:

Specialized advice on furnished holiday lettings for tax efficiency.

HMRC’s Let Property Campaign:

HMRC is actively targeting tax evasion among residential and buy-to-let landlords through the Let Property Campaign. This initiative allows individual landlords renting residential property in the UK or abroad to bring their tax affairs up to date on favorable terms.

Key Points of the Campaign:

Open until next year.
Failure to participate may result in penalties up to 100% of the owed tax, compared to 0%-20% for voluntary disclosure.

Penalties depend on:

Whether the disclosure was prompted or unprompted.
The type of concealment.
Interest is charged from the due date until the tax is paid.

How Groopacc Taxation Can Assist with the Let Property Campaign ?

Our experienced team has successfully guided many clients through this campaign, helping them:

Reduce tax liabilities legally.
Avoid reputational damage and severe penalties.
Declare rental losses (where applicable) and carry forward these losses to offset future rental profits.

Why Choose Groopacc Taxation ?

Expertise in Voluntary Tax Disclosures and Investigations:

Our team includes a specialized tax partner and an ex-HMRC inspector, bringing valuable insight into HMRC processes.

Penalty Minimization:

We advise clients on minimizing penalties and interest through strategic disclosure.

Cost-Effective Solutions:

We offer fixed-fee arrangements and affordable repayment terms for our clients.

At Groopacc Taxation, we are committed to providing clients with the best possible advice, ensuring compliance with HMRC regulations while minimizing tax liabilities.

Book a Consultation