Taxes – Property

  • Property taxes are very specific:
  • Non Resident (Non Domtax 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.

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