Property tax

Tax | Q&A: temporary rate-reduction and multiple-dwellings relief

In our regular Q&A series, Croner Taxwise, tax advice consultant Roger Bradbury, explains how multiple dwellings relief would work in a purchase following the temporary stamp duty land tax (SDLT) rate changes

13 Oct 2020

Tax

Tax | Q&A: main residence capital gains tax

In our regular Q&A series from Croner Taxwise, trainee tax adviser, Alexander McCarthy explains whether a taxpayer can claim their old marital home is still their main residence for capital gains tax (CGT) purposes when it is sold

15 Sep 2020

Tax | Overseas property income declarations rise 17%

There has been a steep increase in the amount of rental income from overseas property declared by UK taxpayers, which rose by 17% following a series of tax investigations campaigns by HMRC, according to analysis by Moore

27 Aug 2020

Tax | HMRC’s let property campaign yield below expectations

An HMRC campaign targeted at increasing the tax take from properties which are let out is making slow progress, so far producing under a third of the yield expected, and with only a handful of landlords coming forward to make a disclosure, according to analysis by Saffery Champness

6 Aug 2020

Tax | Q&A: qualifying for Principal Private Residence Relief

In our regular Q&A series from Croner Taxwise, tax adviser, Sohail Butt explains how much of the gain will qualify for Principal Private Residence Relief when selling a property

28 Jul 2020

Tax | Finance Bill 2020-21: corporate interest restriction rules amended

HMRC has announced technical changes to interest restriction rules ‘to make sure the regime works as intended’ in line with the OECD’s Base Erosion and Profit Shifting (BEPS) framework

23 Jul 2020

Tax | Finance Bill 2020-21: ATED and SDLT relief for housing co-ops

HMRC has announced relief for housing co-operatives from Annual Tax on Enveloped Dwellings (ATED) and Stamp Duty Land Tax (SDLT)

23 Jul 2020

Tax | Finance Bill 2020-21: New SDLT rates for non-UK residents

HMRC has issued draft legislation for 2% additional stamp duty land tax (SDLT) for non-UK resident purchasers of residential property, set to be introduced from 1 April 2021 and forecast to raise £250m over five years

22 Jul 2020

Tax

Property tax

Tax | Scotland to cut Land and Buildings Transaction Tax

The Scottish government is to cut the rate of its devolved Land and Buildings Transaction Tax (LBTT) from this week, after Chancellor Rishi Sunak announced a limited time reduction in stamp duty land tax (SDLT), as part of plans to revitalise the housing market

13 Jul 2020

Tax

Property tax

Tax compliance

Tax | Q&A: land acquisition VAT recovery

In our regular Q&A series from Croner Taxwise, VAT adviser, Priyesh Mistry explores the VAT implications on the acquisition of land and the additional work carried out to repurpose that land for a car park, how much input tax can be recovered?

7 Jul 2020

Tax | HMRC shifts guidance on public access to national treasures

Covid-19 has prevented access to land and property of significant national value, but HMRC is granting owners leeway over its tax incentive scheme, say Withers’ Charlie Tee and Louise Williamson

6 Jul 2020

Tax | Q&A: reduced VAT rate for empty home conditions

In our regular Q&A series from Croner Taxwise, senior VAT consultant, Hilary Budd explains how reduced rate VAT relief for the refurbishment of empty residential premises can be applied to first and second empty homes

23 Jun 2020

Tax | Home office workers risk expense claims tax trap

RSM tax partner Chris Etherington highlights the tax allowances for working from home, but warns against designating a room solely as an office

17 Jun 2020

Tax | Q&A: temporary OTT notification extension period

In our regular Q&A series from Croner Taxwise, VAT advice consultant, Sally Atkins explains the background of HMRC’s extension to the notification period for notifying an Option to Tax (OTT)

9 Jun 2020

Tax | CIOT calls for property sales tax change

The Chartered Institute of Taxation (CIOT) is asking the government to consider delaying changes to capital gains tax rules in relation to home sales, to take account of the impact of Covid-19 on the property market

4 Jun 2020

Tax | Covid-19: property transactions slump by half

The estimated number of residential property transactions in April was 53.4% lower than April 2019 and 46.1% lower than the previous month this year, as coronavirus restrictions brought the housing market to a halt, HMRC statistics reveal

22 May 2020