Property Taxes


The Labour Party have published their general election manifesto, which includes plans for higher corporation tax, income tax increases for those earning more than £80,000 and taxing capital gains and dividends at income tax rates with a single allowance.

We are aware that HMRC are sending compliance letters to tenants occupying residential property owned by non-resident corporate landlords.

The Chartered Institute of Taxation (CIOT) responds to the consultation document which sets out HMRC’s current thinking and approach to interpreting DAC6.

The Chartered Institution of Taxtion (CIOT) sent a proactive letter to HMRC in relation to the SDLT reliefs for an acquisition of an existing house by a house builder where the individual acquires a new house from the house builder in part exchange.

The Chartered Institute of Taxation (CIOT) and Association of Taxation Technicians (ATT) respond to the call for evidence on simplification of partial exemption and the Capital Goods Scheme.

Liberal Democrat conference in Bournemouth backed radical changes to corporation tax, including restrictions to reliefs, a boost to capital allowances and extending the tax to cover highly profitable partnerships and other unincorporated businesses. For multinationals the party wants a wider definition of permanent establishment and, longer term, a global system of business taxation. In an autumn election a penny on income tax for health and social care, and restoring the 20% rate of corporation tax to increase funding of public services, would likely be key policies.

HMRC have released the September issue of the Stamp Taxes Newsletter

The Chartered Institute of Taxation (CIOT) has sent further comments to HMRC in relation to the provisions in Finance Act 2019 for chargeable gains accruing to non-residents.

The CIOT comments on draft Finance Bill legislation on the transfer of unlisted securities to connected companies for Stamp Duty and Stamp Duty Reserve Tax.

The latest Land and Buildings Transaction Tax (LBTT) bulletin was published on 21 August on the Revenue Scotland website. This bulletin sets out Revenue Scotland’s view and provides an update on its approach to daily penalties following a recent decision of the Upper Tribunal for Scotland (UTS).