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Personal tax property tweaks

29 October 2018

There have been a handful of announcements affecting taxing your home, some good, and some bad. These cover rental, sales, stamp duty and inheritances, but for most people the effects will be very limited.

Speciality debts - new HMRC policy statement
Andrew Robins

24 September 2018

HMRC have just published updated guidance on the subject of the situs of ‘specialty debts’. This is potentially important for any non-UK company or trust that is owed money and could have an inheritance tax impact for shareholders/settlors as well.

Do we need to reform stamp duty land tax again?

14 September 2018

Stamp duty land tax is paid on land transactions in England and Northern Ireland (Scotland and Wales have different provisions ). Recent years have seen a number of changes to SDLT as it applies to residential property, with the majority resulting in higher charges.

No such thing as a common law spouse?

20 April 2018

According to the Office for National Statistics report: Families and Households: 2017, one in five couples living together in 2017 were not married or in a civil partnership. In total, around 3.3 million couples cohabit, more than double the 1.5 million number from 10 years ago. Of these couples, around 40 per cent have dependent children.

Prove it or lose it - wealth confiscation powers

15 March 2018

Anyone might think that London is awash with ‘dodgy’ money. But is this true? The UK government has not been particularly vocal about the measures it has put in place over the last few years to tackle ill-gotten gains being enjoyed in the UK, but there are many of them.

Taxed for having an opinion?

16 February 2018

Over the last few weeks, HMRC has begun writing letters to individuals who made donations during the EU referendum campaign, ‘inviting’ them to pay inheritance tax (IHT) at 20 per cent on their gift. This immediately led to conspiracy theories about civil servants angry at the outcome of the referendum seeking to punish Brexit supporters.

All change for commercial property?

15 December 2017

The Treasury has issued a consultation paper introducing proposals for new tax charges for UK commercial property held through international structures. The proposals could have a significant financial impact on UK investment decisions, and could conceivably put a break on property development across the country.

Who is making your mind up?

15 December 2017

There are many ways of inducing people to make tax payments and complete returns. In the past HMRC relied mainly on fines and threats, but it also often now uses less aggressive tactics.

A bit of a wind-up

20 October 2017

Higher tax charges on distributions from solvent liquidation where company’s activities are continued by shareholders.

Time to leave?

19 September 2017

Economic and political uncertainty, calls for higher personal tax rates… the list of reasons for wealthy individuals to consider leaving the UK seems to get ever longer.