Month: September 2023

You can easily gift money to your family and l loved ones in the UK. However, you need to keep in mind that inheritance tax can apply to certain monetary gifts. It is important to understand the tax rules regarding giving and receiving gifts for your family. This guide covers everything you need to know. […]

You can create an additional income stream by investing in property. While it is a lucrative endeavour, it also means that you must declare the earnings you receive from renting out your property. What happens when you fail to do so? How can the HMRC know that you have undeclared rental income? This guide will […]

When investing in property, one must know the pros and cons of the type of property. You should make sure you know exactly what you are getting into before you decide. It depends on your goals and budget. Which means that what is best for other may not be best for you. When thinking about […]

It is important to know how much debts you owe to HMRC. They will chase you for repayment of those debts. Those debts can exist because of missed tax credit payments or any outstanding amount you owe. HMRC can even take you to court if you owe them money. Which leads to you owing them […]

If you decide to buy a property with another person or people, then you should do so carefully. It is important to understand the implications of jointly owning a property. It is a complex matter. You need to know the type of ownership you are getting into and your rights as a joint owner. This […]

When you owe money to HMRC, then they will do whatever is in their power to recover it. That is why it is in your best interest to pay them back immediately, or at least agree to do so. HMRC can resort to seizing your belongings and selling them to raise enough money to pay […]

When you step into the property investment business, you come across various types of properties. As a property investor, it is best to know the pros and cons of each type. You must conduct thorough research before you can invest. So, what is a freehold property? How can you purchase a freehold property? This guide […]

It is quite difficult to get a mortgage. In fact, it is more than you would think. Along with excellent credit rating and good salary, mortgage lenders want you to have a house deposit. Unfortunately, most first-time buyers cannot save enough for a house deposit while renting. This guide explains how to buy a house […]

Owning a second home comes with its own complexities in the UK. A lot of factors come into play regarding the costs of your second property. You must know how to deal with it. This is guide will help you understand all that and more. Find out the answer to the question: do you pay […]