Property tax

Tax | Non-resident purchasers to pay more SDLT on residential property

From 1 April non-resident property purchasers will have to pay an additional 2% stamp duty land tax charge on purchases, explains Zigurds Kronbergs, specialist tax writer at Croner-i

24 Mar 2021

Tax | Budget 2021: stamp duty cut in place until June

In a welcome move for home buyers midway through property transactions, the Chancellor confirmed that the stamp duty holiday would remain in place for a temporary period

3 Mar 2021

Tax | Q&A: private residence relief and permitted garden area

In our weekly Q&A, Croner Taxwise tax adviser Ibrahim Nalla, examines the tax compliance issues around private residence relief when owners dispose of their main residence and have to account for garden sales

2 Mar 2021

Tax | Changes to stamp duty for non-UK residents from 1 April

A special stamp duty land tax (SDLT) hike for non-UK residents comes into force from 1 April and could catch out some overseas based property purchasers. Natasha Heron, tax manager at Hillier Hopkins, explains

2 Mar 2021

Tax | Stamp duty holiday drives property sales

The stamp duty holiday, which is due to end in March, has restored housing transactions to the highest level since 2007 with tax take hitting £1.35bn in the last quarter

22 Feb 2021

Tax | Property developers face tax charge to offset cladding remediation

The Housing Secretary has announced plans to introduce a new tax, the ‘Gateway 2’ developer levy to offset some of the costs of replacing dangerous cladding on high-rise buildings

11 Feb 2021

Tax | CPD module on capital gains tax (CGT) and leases

This month's exclusive Accountancy Daily CPD module focuses on the computation of capital gains tax (CGT) and leases

10 Feb 2021

Tax | Ten things that will shape the property market in 2021

The residential property market has held up well in 2020, no doubt supported by the government’s stamp duty holiday introduced as part of wider Covid-19 measures. But what, asks Henry Lowe, partner at Mercer & Hole, will shape the property market in 2021?

7 Jan 2021

Tax | Richest 1% hold almost a quarter of UK wealth

The UK’s wealthiest 1% of households hold almost £800bn in assets official statistics show, raising their share of household wealth to 23%, according to the Resolution Foundation

4 Jan 2021

Tax | Wales increases tax on second home sales

Wales has increased the rates of land transaction tax (LTT) on property sales with the change coming into immediate effect

22 Dec 2020

Tax | Making Tax Digital: what's the long-term plan for corporation tax?

The ambitious plan to make UK tax fully digital for reporting purposes may have been delayed by the pandemic, but HMRC is still prioritising MTD for income tax and corporation tax. Croner-i tax writer Meg Wilson takes stock

22 Dec 2020

Making Tax Digital

Tax | HMRC penalty payments increase by 62%

HMRC penalties for taxpayers’ compliance failings are on the rise once more, following a sharp drop at the start of lockdown, according to research by UHY Hacker Young

15 Dec 2020

Practice & Industry

Tax | Tax updates 2020 part 1: personal

In a round-up of the biggest personal tax stories of the year, we look at all the non-coronavirus news, including a potential wealth tax, CGT charges on second home sales, ‘deliberate’ errors, fall in IHT receipts, buy-to-let tax hikes and pension tax relief admin discrepancy

15 Dec 2020

Law and regulation

Tax | Q&A: fitted furniture and reduced-rated building work

In our regular Q&A series, Croner Taxwise senior VAT consultant, Vivienne Scott, answers whether VAT should be charged on fitted furniture in renovated and converted houses

15 Dec 2020

Tax | Capital gains tax changes self assessment taxpayers need to know

HMRC signals time is running out for anyone who sold a second home during 2019-20 to declare it on their self assessment tax return and pay the capital gains tax (CGT) that is due

25 Nov 2020

Tax | Airbnb hosts must act now to avoid HMRC probe

As the online short-term rental giant passes its user data to the tax authority, RSM’s Sarah Saunders says amateur renters should have nothing to fear if they use reliefs and follow the rules carefully

9 Nov 2020

Technical Alerts

Direct Tax | Case report: UT determines market value of leasehold interests

Direct Tax | HMRC update negligible value claims and agreements guidance

Direct Tax | CIOT calls for specific reforms on trusts taxation

Direct Tax | HMRC update heritage assets guidance

Direct Tax | HMRC publish outcome summary on taxation of trusts consultation

Direct Tax | HMRC amend life insurance top slicing relief guidance

Direct Tax | HMRC update negligible value claims and agreements guidance

Direct Tax | SI 2021/224 – The Major Sporting Events (Income Tax Exemption) Regulations 2021

Direct Tax | SI 2021/213 – The UK Property Rich Collective Investment Vehicles (Amendment of the Taxation of Chargeable Gains Act 1992) Regulations 2021

Direct Tax | Budget 2021: Inheritance tax

Direct Tax | Budget 2021: Capital gains tax

Direct Tax | Case report: Upper Tribunal overturns FTT decision on ER and trustee disposals

Direct Tax | HMRC update negligible value claims and agreements guidance

Direct Tax | HMRC publish overview of trust registration extension

Direct Tax | Case report: Business asset disposal relief denied after employment ceased

Direct Tax | Case report: FTT dismisses loss-creation structure using forward contracts’