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Tax relief on finance costs for residential lets

It may come as no surprise to learn that HM Revenue & Customs (HMRC) have started writing to those taxpayers who may have incorrectly completed the property pages on their tax return specifically in relation to the amount of tax relief that can be obtained on residential property finance costs.

Trading loss. Cash flow gain?

Temporary change to the rules on carrying back trade losses was announced in Budget 2021. Unlocking such tax relief could be a considerable cash flow plus for businesses hit by the pandemic.