Helpful article on the taxes a landlord in the UK should be very careful to!
Every property comes at a cost! But you can ‘mind’ your budget as a property owner when it comes to one financial department concerning properties: taxes.
Financial consciousness should be a field in which every house owner should be a master. There are a few tricks that can be used to lower the tax level upon your property:
- Don’t build any secondary constructions to the house. Even a garage can easily raise the tax level, being considered an outdoor structure.
- Pay constant attention (not money!) to the taxes paid. If you feel like you’re paying too much you can file an appeal to the local tax agency. And you can ‘prospect the market’ too: ask your neighbors with similar house how much do they pay.
- Don’t make your home over glamorous. Apparently being too posh can be taxed accordingly so keep your home on the normal ground.
More tricks and details in the article on Property Division: