09 March 2017
The Budget has not brought any major surprises to the property sector. Relief from rates for small businesses and pubs as well as the extension of anti-avoidance measures may impact on genuine businesses. Inheritance tax and the restriction of interest and corporate losses to be introduced in April are still a concern for the sector
21 February 2017
April 2015 saw the introduction of CGT for non-residents owning UK residential property. Not only are non UK residents now liable to UK CGT on the sale of UK residential property, they also have an obligation to file an online return with HMRC within 30 days of the property being sold. Failure to do so can mean penalties rack up on a daily basis.
21 February 2017
With the end of another tax year fast approaching many will be considering whether any action should be taken before 5 April to mitigate their tax liabilities for the year. Whilst we should not forget the usual year end planning points, such as using ISA allowances, the 2016/17 tax year has a number of new complexities that should not be overlooked.
06 January 2017
On 19 August 2016 the government issued a new consultation. On 5 December 2016, its summary of the responses to the consultation was published, alongside the draft Finance Bill 2017, which provides more clarity on certain aspects of the proposals.
23 November 2016
The government is considering bringing non-resident landlords into the corporation tax regime. This will add a layer of complexity and may increase taxable profits. There are some benefits including a potential lower rate of tax.
18 October 2016
New proposals will mean more UK property will fall within the UK inheritance tax (IHT) net from 6 April 2017.