We have been made aware by the Chartered Institute of Taxation that, the UK tax authorities, HM Revenue and Customs (“HMRC”) intend to target offshore companies owning UK property.
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Whether a property is residential or commercial for the purposes of Capital Gains Tax (CGT) has an impact on both the timing of the tax due on its disposal and the rate at which it is charged. In a ...
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Companies that own UK property are required to file annual ATED Returns (“Annual Tax on Enveloped Dwellings”) with HMRC.
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When purchasing a second home, owners are compelled to pay an additional 3% stamp duty land tax (SDLT) on top of the normal SDLT rates applicable to their homes. If however, the second property ...
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From 6th April 2020 payment deadlines for Capital Gains Tax when disposing of a UK residential property are changing. Currently, when a UK resident disposes of a UK residential property, the capital ...
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Finance Bill 2019-20 confirms expected changes to Private Residence Relief and lettings relief
Read MoreThe Chancellor of the Exchequer today announced his final post-Brexit budget. From a personal tax perspective, the Budget contained a number of small changes to existing rules and confirmation of ...
Read MoreRent-a-room is a tax relief available individuals who let out a room/s in their home whilst occupying the property at the same time, for example to long-term lodgers, students, individuals working ...
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