Article by Chris Whitehouse, barrister at 5 Stone Buildings. This article appeared in the October 2004 issue of Tax Adviser. The changes announced by the Chancellor in his autumn statement on 10 December 2003 sent seismic waves through the capital tax planning community. No more Melville
or second homes schemes while, even if the taxpayer manages to avoid the reservation of benefits rules (gifts with reservation), he will (from April next year) be swept up into the income tax net via the pre-owned assets charge.
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