Video:

The-importance-of-proving-residence1

Record keeping to prove residency

Author: Chris Springett, James Kirk (yBC.tv)

Categories: Getting advice, Tax Planning
Tags: property, property ownership, residence
Record keeping is necessary to prove property ownership and residency. Property tax is assessed very carefully by the HMRC, as Chris Springett discusses in this TV show.

Record keeping and property residence

I think a lot of the recent cases have really just shown the importance of maintaining evidence of when you used the property. I mean some of the recent ones, people have tried to make claims when there’s been no electricity connected to it, no gas, no water. And it really does show that HMRC are looking at the specific facts of each case. They’re not just ticking them through. They’re not just allowing arguments, of well it was the only property I owned, that’s insufficient. They really want you to show it is a residence. Coming to an advisor such as Smith & Williamson nice and early allows us to advise you of this, make sure you are doing what you need to do from day one. And when it comes to day of sale you’ll know exactly what position you’re going to be in.   If you found this video about record keeping and property residence interesting, please browse more TV shows on Inside Finance TV
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