Property tax

Tax / Filing deadlines: Feb - Jul 2019

The key HMRC filing deadlines from February to July 2019 including Forms P46(Car) for quarter ended 5 Jan, PAYE cheque payments for month ended 5 Feb and payment of outstanding income and CGT in respect of personal tax returns for 2017/18 to avoid 5% surcharge

Tax / ‘Off-plan’ purchases and capital gains tax post-Higgins

Mark Cawthron, tax writer at Croner-i, looks at how prospective purchasers of flats off-plan, and developers offering such flats, might think about reacting to the decision in the recent case of Higgins, with a view to seeking to mitigate or remove such difficulty

Tax / Global tax advisory revenues top $20bn

 Tax advisory revenues globally have hit $20bn (£15.2bn), up by 8.6%, with the UK market set to grow faster than any other European country in 2019 with Brexit driving growth, according to analysis from Source Global Research

Tax / End of US shutdown sees IRS tax services resume

After the longest US government shutdown ever, President Trump has finally given in to pressure and re-opened government, allowing the resumption of full Internal Revenue Service (IRS) for taxpayers before the April tax filing deadline

Tax / Inheritance tax: residence and transferable nil rate bands – part 3

Lisa Macpherson ATT TEP, head of tax technical at PKF Francis Clark, unpicks the complexity of the inheritance tax residence nil rate band (RNRB), transferable nil rate band and compliance issues, with case studies of typical scenarios

Tax / Inheritance tax: transferable nil rate bands – part 2

Compliance with the inheritance tax nil rate band (NRB) is a complex area but beneficial from a tax perspective as it allows a £1m IHT exemption. Lisa Macpherson ATT TEP, head of tax technical at PKF Francis Clark, examines transferable bands and residence issues

Tax / MPs reject sweeping Treasury Brexit powers

The government’s no-deal Brexit preparations suffered a blow as a clause in Finance Bill 2018-19 (FB 2018-19) giving the Treasury broad powers in the event of a no-deal Brexit was narrowly defeated by rebels and opposition members

Tax / Inheritance tax: liability for unmarried couples - part 1

Eugenia Campbell, tax director at RSM, kicks off a new series on inheritance tax, focusing on the treatment of unmarried couples and cohabitees without children under the current nil rate band tax rules

Tax / Q&A: VAT on architect fees for design and build contracts

Vivienne Scott, senior VAT consultant at Croner Taxwise, discusses whether design and build contracts allow architects to apply a zero rate VAT to the professional services they provide to contractors

Tax / Millennials pick up income tax burden from elderly

Research by Moore Stephens shows that the tax burden on the older generation has fallen by 4% in the past year, with millennials paying an extra £5bn compared to the same period in the previous year

Tax / Commercial property brought into non resident CGT charge

HMRC has issued draft guidance for the extension of the non resident capital gains tax rules bringing commercial property and company disposals into scope for the first time from April 2019

Tax / Reforming wealth tax will raise revenue

An ageing population and rising public service costs are putting a strain on the Treasury’s coffers. Torsten Bell and Adam Corlett of the Resolution Foundation argue that the Chancellor could generate £7bn a year by 2022-23 with adjustments to five wealth taxes and subsidies

Tax / Tax updates: January 2019

This month's review of tax cases, including a dismissed R&D allowance appeal in a partnership, an upheld surcharge for unauthorised payments in McCashin, and a gifted property sub-lease subject to inheritance tax in The Estate of Lady Hood

Tax / Nunn: probate fee hike needs to be rethought

The increase in probate fees from April 2019 will impose large costs on many people resolving high-value estates. Yvette Nunn CTA, founder of Berkeley Associates, warns that for some it will no longer be as simple as selling a house in a game of Monopoly

Tax / Scotland pressed on land value tax

The Scottish government should consider introducing a land value tax (LVT) as a way of delivering on its land reform objectives and raising revenue in a more progressive way, an academic report has suggested
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