Taxes - Property
- Property taxes are very specific:
- Non Resident (Non Dom) tax for landlords not normally UK resident.
- Capital Gains (Bricks and Mortar) Tax
- Revenue Tax - for rental income
- Inheritance Tax following the death of an property owner (Death Taxes) based on the value of an estate less tax exemptions.
- Rent-A-Room Scheme - This is not a tax but a tax-relief. Resident Landlords are treated more favourably with larger tax relief allowance.
- Independent taxation - is a separte topic where spouses are taxed separately.
- Council Tax - payable by home occupiers and or owners. Some occupiers are exempt including full time students.
- On 6 April 2013 the coalition government reduced the benefits and exemptions to both tenants and landlords. Empty properties in Canterbury no longer qualify for an initial 6 months exempt status pending renovation and a property becoming uninhabitable.
Published: 11 November 2013
Last Updated: 17 November 2021