News & Advice

The property sector has responded in unexpected ways to the coronavirus pandemic. The summer months saw a ‘mini-boom’ in property sales, attributed to a combination of the temporary stamp duty holiday and a pent-up desire to move after the first lockdown. But what’s especially interesting is that as our lives have shifted on the unpredictable tides of 2020, so have people’s property preferences. Factors that were once extremely important have now become less so, while other aspects of properties have increased in value.

Whether you’re renting for the first time or for the thirteenth time there are always multiple costs involved that need to be considered.

Energy bills. As discussed in our previous blog post they’re something we all must pay as part of our monthly outgoings, but struggle to have full control over the price we pay.

Most of us know about the '7 year rule' that allows the tax man to 'claw back' a portion of the tax liable on gifts made less than 7 years before one's death as 'part of their estate'. However, there are circumstances where gifts and transfers made a much as 13 years before death can be liable to the estate tax. Here, we'll explore how that can happen, and what to do about it.

As inheritance tax is an issue on many property investor's minds right now, we thought we'd explain 'the seven year rule, and how property tax is assessed when a gift of property is made less than 7 years before death.