Documents for Business

In excess of 1,000 customisable documents covering every conceivable business issue.
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Election for rent-a-room relief not to apply

Election for rent-a-room relief not to apply Where you let part of your home, HMRC calculates the taxable income for a year by deducting a fixed sum from the rent etc. you receive. This deduction is called rent-a-room relief and is £7,500 (2017/18). ... Read more
 
 

Election for a period of grace to apply to FHLs

Election for a period of grace to apply to FHLsWhere you own a property which you let furnished as holiday accommodation it can qualify for preferential tax treatment where various conditions are met.When can you use the election?To count as an FLH t... Read more
 
 

Election to average occupation of FHLs

Election to average occupation of FHLsWhere you own a property which you let furnished as holiday accommodation it can qualify for preferential tax treatment if various conditions are met.When can you use the election?To count as a furnished holiday ... Read more
 
 

Nominating a main residence election

Nominating a main residence election If you own two or more properties which you use as homes, say your main house and a holiday home, you can choose which qualifies as your main residence for capital gains tax private residence relief.More than oneT... Read more
 
 

Capital allowances election for fixtures in buildings

Capital allowances election for fixtures in buildingsWhen a commercial building is sold the seller and the purchaser can agree to apportion part of the price to fixtures which qualify for capital allowances, i.e. plant, machinery and integral feature... Read more
 
 

CGT schedule of capital enhancements

CGT schedule of capital enhancements The cost of structural alterations or improvements to properties counts as capital expenses (enhancements). They can be deducted as expenses when calculating the capital gain or loss following the sale of the prop... Read more
 
 

Chattels checklist

Chattels checklistAnything moveable that is sold with a property is generally not considered to be part of it and so is not subject to stamp duty land tax (SDLT). The purchaser will save SDLT by allocating any of the purchase price to chattels. Equal... Read more
 
 

Rental business employee's job description

Rental business employee's job descriptionYou can claim a tax deduction for the cost of paying someone, including a spouse or civil partner, to manage a property you let. HMRC may ask for details of their role so you need to justify paying them. Wage... Read more
 
 

Licence agreement (commercial property)

Licence agreement for commercial propertyThere are various reasons why you might not want to offer someone a lease over a property. A licence to occupy land or buildings, unlike a lease, does not convey exlusive right over the property. licence agree... Read more
 
 

Deed of trust for property

Deed of trust for propertyIf property is owned jointly, HMRC tax any rental income on each of the joint owners equally. However, a deed of trust can be used to transfer some or all of the beneficial entitlement from one joint owner to the other so th... Read more
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