Property tax issues can be particularly difficult to deal with, especially in the south-east of England, according to the director general of the Tax Incentivised Savings Association (TISA).

The trade association's Tony Vine-Lott claims that errors are often made when it comes to inheritance tax - and it is "significant"in the south of the country because property is generally more expensive there.

In what could be described as landlord advice, the TISA representative said: "People seem to think that capital gains tax is only on the house and often forget about the other assets and don't take into account things like debts."

People often seek professional advice on these matters as they appear to be naive or ignorant when it comes to tax, he added.

The latest Tax Action report from professional advice website indicated that British taxpayers will waste over £10 billion in unnecessary tax in 2009.

Related posts:

  1. Property tax issues discussed

Leave a Reply

You must be logged in to post a comment.