Click me
Transcribed

Tax Net Closes in For Property Investors

www.rjp.co.uk rjp Accountants & Tax Advisors Tax net closes in for property investors Whether you own multiple homes as investments, have a rental portfolio or own just your main family residence, property tax revenues are set to increase sharply in the coming years. See what's in-store and plan ahead to minimise your potential tax bills. Total tax revenues: £470 billion £689 billion £321 billion 2001 - 2002 2012 - 2013 2017 - 2018 (actual) (actual) (projected) How does this break down? £470 billion – most recent figures available published March 2014 55% 19% 9% 2% 15% Personal Tax Corporation Tax (ст) VAT Other Capital Gains Tax (CGT) National Insurance (NICS) Stamp Duty (SDLT) Property taxes will become a more important source of revenues for HMRC through increased CGT and stamp duties. 2014 2019 5% 2.5% landlords in the UK will be 1.4 required to pay either CGT or IHT in the next 5 years million How do taxes from property add up now and in the future? 2012 - 2013 £6.9 bn £3.9 bn £3.1 bn SDLT CGT IHT £18.1 bn 63 bn £5.8 bn 2018 - 2019 How will the new 'enveloped dwelling' tax ATED affect property owners? April 2014 Property Value £2m + April 2015 Property Value E1m + April 2016 Property Value £500,000 + Levy £15,000 Levy £7,500 Levy £3,500 Levy of £15,000 on property worth over £2m Levy of £7,500 property worth over £1m Levy of £3,500 property worth over £500,000 In 2017 will threshold become £250,000 to catch more property owners? Sources: Office for Budget Responsibility 2014, Daily Telegraph - March 2014, www.hmrc.gov.uk- March 2013, Accountancy Age - April 2014

Tax Net Closes in For Property Investors

shared by taylordavies8788 on Jun 09
40 views
0 shares
0 comments
Wheather you own a multiple homes as investments,have a rental portfolio or own just your main family residence,property tax revenues are set to increase sharply in the coming years.See what's in-stor...

Category

Economy
Did you work on this visual? Claim credit!

Get a Quote

Embed Code

For hosted site:

Click the code to copy

For wordpress.com:

Click the code to copy
Customize size