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HMRC Target Offshore Companies

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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When is a house not a home?

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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ATED Filing Obligations and Penalties…

Companies that own UK property are required to file annual ATED Returns (“Annual Tax on Enveloped Dwellings”) with HMRC.

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Coronavirus extension granted to claim 3% SDLT relief on replacement of main home

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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Changes to paying Capital Gains Tax on UK Property Disposals

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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Significant changes to taxation of gains on sale of UK property

Finance Bill 2019-20 confirms expected changes to Private Residence Relief and lettings relief

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Budget 2018 – summary of key tax announcements

The 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 ...

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Changes for Non-Resident Investors in UK Land

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Playing a Let

Rent-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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