HMRC sets up opaque unit to probe inheritance tax avoidance
HM Revenue & Customs has created a somewhat secretive and shadowy unit to investigate the use of family investment companies , sometimes known as FIC’s, to avoid paying inheritance tax. The unit was set up the team in April…
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‘Inheritance Tax Planning with Investment Property’
‘Inheritance Tax Planning with Investment Property’, is now available for you to download at absolutely no cost today, Tuesday 4th June, and for the next two days. Simply go to Amazon Books and type in ‘Steve Parnham’ or follow this…
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HMRC Reassures Buy-to-Let Landlords
An unannounced amendment to the Finance Bill, under which gains from certain property disposals will be charged to income or corporation tax rather than capital gains, should not adversely affect buy-to-let investors, according to the National Landlords Association. The government…
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Treasury adds last-minute ‘stealth tax’ on buy-to-lets
The Law Society (England and Wales) has sharply criticised HM Treasury for adding significant new clauses to the Finance Bill 2016 at the report stage without any consultation. It says clauses 75-78 regarding the taxation of buy-to-let properties, will result…
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Welsh government prepares replacement for stamp duty
The Welsh government has published a draft of the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Bill. The new tax would replace stamp duty land tax on transactions from 1st April 2018, though initially it will be consistent…
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Stamp Duty Land Tax Surcharge on Second Homes
THE BASICS On 28th December 2015 HM Treasury published details of how it will apply the new stamp duty land tax surcharge on second properties. Full details may be found at – https://goo.gl/HvRUQz The draft guidance indicates that the additional…
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AUTUMN STATEMENT 2015: Stamp Duty Land Tax Changes
SDLT: additional properties Higher rates of SDLT will be charged on purchases of additional residential properties (above £40,000), such as buy to let properties and second homes, from 1 April 2016. The higher rates will be 3 percentage points above the current SDLT rates….
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AUTUMN STATEMENT 2015: Capital Gains Tax Changes
From April 2019, a payment on account of any capital gains tax due on the disposal of residential property will be required to be made within 30 days of the completion of the disposal. This will not affect gains on properties which…
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Trustees and Residential Property
The government has tabled amendments to the Finance Bill extending the restriction on interest relief on let residential properties to the trustees of discretionary or accumulated income settlements. Interest paid by the trustees property business will be restricted to the…
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PROPERTY OWNERSHIP IN THE EU: THE LATEST CONSIDERATIONS
Although the UK opted out of Brussels IV, more ominously known as EU Regulation No 650/2012, it may well have implications for anyone who owns assets in an EU country which has opted in. Although the Regulation was passed in…
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