Budget 2020 – Are You Getting Things Done? – Increased focus on Tax Avoidance and Compliance in the Construction, Property and Housing Sectors

The Chancellor, Rushi Sunak’s, Budget Speech was delivered confidently and focused on investment, support and the environment. However, for some sectors, the devil was in the detail and it has become evident that the reference to raising an additional £4.7bn...

New 30 days Capital Gains Tax payment deadline for UK taxpayers disposing of residential property.

From 6 April 2020, UK taxpayers who dispose of residential property, will be required to report the disposal and pay the relevant Capital Gains Tax (“CGT”) liability within 30 days from completion. How are residential property disposals reported currently? At...

ATED – the often forgotten tax

For companies, the preparation and filing of the annual corporation tax return is usually what springs to mind when the word tax is mentioned. However, the Annual Tax on Enveloped Dwellings (‘ATED’) is often forgotten and can catch out companies...

Big backdated SDLT boost for first time buyers with shared equity

First-time buyers who acquired shared-equity dwellings worth up to £500,000 on or after 22 November 2017 now have no SDLT to pay and may claim back any SDLT they may have already paid. This builds a substantial extension onto the...

All UK property to come within the UK tax net for non-residents

Following the introduction in 2015 of a new capital gains tax regime for non-UK resident individuals who dispose of UK residential property, it is perhaps unsurprising that the Treasury published a consultation document as part of the Autumn Budget proposing...

SDLT – Steady as she goes

It was a quiet Budget on the Stamp Duty Land Tax (‘SDLT’) front with the only announcement being the welcome delay for a year of the reduction in the filing and payment window until 2018/19. The proposal to reduce the...

SDLT additional rate for residential properties – limited good news for individuals but bad news for property investors

The government has now finalised its proposals for the introduction of a 3% surcharge for purchases of additional homes and buy-to-let properties by individuals and for any purchase of a dwelling by a company or other non-natural person. However, there...

Stamp taxes in Draft Finance Bill 2016: everything but the crucial residential property 3% addition

The draft Clauses Released so far The draft 2016 Finance Bill clauses cover most of the stamp tax changes announced at the Autumn Statement.  Unfortunately, the one area not covered is that which is, perhaps, of the widest interest, the...