https://www.dbeckman.com/ – When it comes to property tax, if one isn’t careful, there a number of things that could go wrong. David Beckman & Co. Ltd. helps simplify the complex property tax obligations and provides the right advice to help you save more and pay less tax. There are 3 significant property tax changes are set to come into effect in the new tax year in April 2020. Firstly, if you sell any type of property that produces a gain, you will have to report the gain AND pay the best estimate of the tax within 30 days of the sale. Secondly, A house that you own but aren’t living in will now be deemed as a main home just within 9 months, thus increasing your capital gains tax. Lastly, “Letting Relief”, which currently helps exempt gains up to £40,000 per person, is going to be eliminated, leading to a substantial rise in your capital gains tax. For more details, contact us at 01737 844 322.
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