Property tax

HMRC

Tax | Q&A: principal private residence relief for an estate

In this week’s Q&A, Croner Taxwise tax adviser Marsha Haywood, examines the use of principal private residence relief (PPR) when an estate is in probate

8 Feb 2022

Tax | Taxpayer must pay £60k capital gains tax bill

A tax tribunal has rejected a taxpayer's claim for allowable losses of £220,000 for capital gains purposes after he failed to pay a deposit on time

2 Feb 2022

Case reports

Tax | Lifetime Allowance tax take hits £342m

The tax collected from individuals breaching the lifetime allowance on pension pots has increased by 1,068% in the last decade surging to £342m in the 2019-20 tax year

1 Feb 2022

Pensions

Tax | Taxpayer loses £250k stamp duty appeal

The court has ruled that the taxpayer’s use of a tax avoidance scheme was ineffective and declared that HMRC’s tax assessment of £250,000 from the purchase of a £5m property was valid

26 Jan 2022

Case reports

Tax | Corporation tax take up £11bn in December

Tax receipts have risen across the board with the latest figures showing that HMRC has collected £507.7bn between April and December 2021 which is £114.1bn more than the previous year, with corporation tax up significantly

25 Jan 2022

Tax | Court rejects £80k multiple dwellings relief case

A tax tribunal has ruled against a claim for multiple dwelling relief of £80,000 on a £2.7m property concluding that the annexe located inside the house could not be classed as two dwellings

25 Jan 2022

Case reports

Tax | Q&A: VAT and renovation of empty dwellings

In this week’s Q&A, Croner Taxwise VAT advisor Arti Sonpal considers whether reduced rate VAT is payable when renovating empty dwellings

25 Jan 2022

Tax | Tax loophole on second homes closed

Owners of second homes who report them as holiday lets will now have to prove it in order to not pay council tax and access business rates relief

14 Jan 2022

Tax | Q&A: exchange of joint property interests and CGT

In this week’s Q&A, Croner Taxwise tax adviser Ibrahim Nalla considers whether there are any capital gains tax (CGT) reliefs available when taxpayers change ownership of properties

11 Jan 2022

Tax | Essentials: tax and the property market

As we head into 2022, Tim Walford-Fitzgerald, partner at HW Fisher shares his expectations for the property market and the six major tax considerations you need to be aware of

6 Jan 2022

Tax | Q&A: principal private residence relief (PPR) on a new build house

In our regular Q&A series, Croner Taxwise tax adviser Kabita Tank considers the tax rules relating to principal private residence relief (PPR) when building a new house

21 Dec 2021

Tax | Most land supplies could be subject to VAT

The government is to continue discussions with businesses into the implications of making ‘most supplies’ of land subject to VAT in order to simplify current legislation

1 Dec 2021

VAT

Tax | Consultation launched to reduce SDLT abuse

HMRC launches call for evidence on changes to Stamp Duty Land Tax (SDLT) regime with the introduction a new apportionment method of calculating tax in mixed-property cases.

30 Nov 2021

Tax | Stamp duty holiday gave buyers £6.4bn tax break

The stamp duty holiday for home buyers introduced in July 2020 provided a £6.4bn tax break for buyers according to analysis by property agent Savills

23 Nov 2021