Property tax

Tax / Property rental tax compliance essentials

Emma Rawson, technical officer at the Association of Taxation Technicians (ATT) explores how the rent a room scheme and property income allowance affect rental income for residential landlords and property owners

Tax / Tax traps for Londoners renting over Christmas

Homeowners in central London could earn more than the cost of Christmas through renting in December, but there are tax risks for exceeding the rent a room scheme thresholds

Tax / Property tax essentials: 30-day CGT deadline, PPR relief

Residential property owners and buy-to-let landlords face significant tax changes from April 2020, including the 30-day CGT payment deadline and an overhaul of principal private resident relief (PPR) and extra statutory concessions (ESC). Mercer & Hole's Alison Palmer and Alice Pearson examine potential pitfalls

Tax / Nunn: one size tax is not the answer for self employed

Attempts to reform tax reporting for the self employed and landlords need to be carefully thought through to avoid creating more complexity and red tape. Yvette Nunn CTA ATT MAAT, director of Berkeley Associates, assesses the latest OTS report

Tax / Higgins wins Court of Appeal case over CGT on property sale

The Court of Appeal has ruled that the ‘period of ownership’ for principal private residence (PPR) relief from capital gains tax (CGT) begins when the property purchase is completed, not from exchange, in a ruling which overturns a previous tribunal finding in HMRC’s favour

Tax / Individual tax accounts need a revamp, says OTS

The Office of Tax Simplification (OTS) is calling for improvements to HMRC’s individual tax account service to provide an end-to-end tax reporting and payment service for the self employed and buy-to-let landlords

Tax / Q&A: SDLT and residential property

In our regular Q&A series from Croner Taxwise, Patrick O'Brien explains how revised HMRC guidance on acquiring residential property will affect the acquisition of ‘mixed use’ land

Tax / Ireland slaps 1.5% stamp duty hike on non-residential property

Ireland has increased the rate of stamp duty for non-residential property sales by 1.5% in the Irish Budget, effective immediately

Tax / Real estate gains and tax liability via offshore CIVs

Changes to tax rules will see UK real estate gains of offshore collective investment vehicles (CIVs) face new tax charges, but there are some exemptions so it is not all bad news for investors. Mark Cawthron LLB CTA explains 

Tax / Nunn: it's easy to get caught out by changes to property tax

Yvette Nunn examines the tax risks facing accidental landlords and second home owners when new tax rules on residential property sales come into force from April 2020

Tax / VAT Q&A: renovation of an empty dwelling

In our regular VAT Q&A series, Croner Taxwise VAT adviser Tony Chamberlain examines whether reduced rate VAT is chargeable on renovation work on a bungalow which has lain empty for more than two years

Tax / CGT overhaul ‘to raise £90bn’

Bringing taxation on assets in line with the regime for income tax could raise £90bn over five years, according to a report from the Institute for Public Policy Research (IPPR) which is calling for the removal of the capital gains tax (CGT) regime

Tax / VAT Q&A: property on hand at deregistration

In our regular Q&A, Vivienne Scott, senior VAT consultant at Croner Taxwise, considers the implications of deregistration with property on hand when an owner has invested heavily in refurbishment

Tax / HMRC’s approach to private residence relief (PRR) enquiries

HMRC is questioning the basis for more claims for private residence relief (PRR) than ever before as it eyes up opportunities to increase the tax take from property sales. Croner Taxwise senior tax consultant Neil Tipping highlights potential PPR pitfalls when selling houses and land

Tax / Bank of Mum and Dad shuts door over trust issues

Lack of trust in potential in-laws is leading parents to review the use of cash payments to children for house purchases with alternatives such as will trusts and ringfencing deposits under consideration 
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