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A short guide to Making Tax Digital for landlords

Xero

As well as residential property, the scope of MTD for ITSA includes Furnished Holiday Lettings (FHL), commercial property, and non-UK property. . The post A short guide to Making Tax Digital for landlords appeared first on Xero Blog.

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Relief for rental losses

Inform Accounting

While the intention is to make a profit from letting out a property, this is not a given, and a landlord might instead realise a loss. Losses from a furnished holiday letting business can only be carried forward and set against profits of that business. Derek has two properties which he lets out.

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Fiduciary tax 101

ThomsonReuters

To further illustrate the purpose of fiduciary tax , consider the following example : Let ‘ s say a client ‘ s family member has died. If the due date falls on a Saturday, Sunday, or legal holiday, file on the next business day. Let ‘ s take a moment to take a closer look at estates and trusts. Bank accounts.

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