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Yet another set of residency rules SDLT surcharge for non residents

13 October 2020

A 2 per cent Stamp Duty Land Tax surcharge will apply from 1 April 2021 on purchases by non-residents of residential property in England and Northern Ireland, increasing the maximum SDLT rate for overseas buyers to 17 per cent. Further clarity is however required on the draft legislation to understand the full impact of the proposed test of residence to be used, as anomalies could arise.

SDLT cuts in a pandemic: what’s happening?

12 August 2020

The temporary SDLT cut in England and Wales has resulted in a flood of properties coming onto the market, with vendors’ expectations reflected in higher asking prices. Whether that translates into an SDLT-driven boost in completions at higher values remains to be seen. We review the issues and conclude that second home and buy-to-let purchasers may bide their time, not entering the market until after the New Year.

Simon Browning

Tax Partner

Simon is a tax partner in our Nottingham office and Head of Tax for the East Midlands. Simon has over 20 years’ experience dealing with tax compliance and tax planning for businesses and their owners.

John Foskett

Partner

John is a corporate tax partner in our Bristol office, with over 20 years’ experience of advising across a wide range of sectors in the mid-market.

Irfan Butt

Partner

Irfan has over 15 years' experience in taxation of pan-European real estate funds, infrastructure funds and debt funds and structuring and restructuring of inbound, outbound and pan-European investments in real estate and distressed debt portfolios. He also holds a qualification in Islamic finance and have been part of the HMT/HMRC Islamic finance working group to advise on the changes to the UK taxation rules.

Capital losses - new restrictions
Adrian Benosiglio

08 August 2019

As of 1 April 2020, new rules regarding restrictions on capital losses are due to commence. Find out how you may be affected by the new legislation.

Government proposes a 1 per cent increase in stamp duty land tax for non-resident buyers of residential property
Adrian Benosiglio

08 August 2019

The Government has issued a consultation paper on their proposals to charge an extra 1 per cent stamp duty land tax (SDLT) for non-resident purchasers of residential property. Find out how this could affect you.

Registering a non-resident company for corporation tax
Adrian Benosiglio

23 July 2019

Now that non-resident companies are subject to UK corporation tax on their capital gains, HMRC have published guidelines on how to register for corporation tax. Find out when to register and what may be expected.

Tax changes for non-residents owning UK property

13 May 2019

Significant and wide-ranging changes are being introduced in relation to the taxation of UK property, some of which already apply for transactions taking place from 6 April 2019, others taking effect from 6 April 2020.

Making tax digital pilot extended to landlords

10 May 2019

Making tax digital (MTD) for income tax was seemingly kicked into the long grass when it was announced that it would not come in until 2021 at the earliest. But a new pilot scheme involving landlords suggests that the idea is still very much alive.

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