Property Taxes

 


HMT and HMRC have issued a joint 12 week consultation on the 1% SDLT surcharge (on top of existing rates) on non-UK residents acquiring UK residential property as announced at Budget 2018. Legislation will follow in a ‘future Finance Bill’.

The Treasury Committee has launched an inquiry into Business Rates to scrutinise how Government policy has impacted business. The Committee will examine how Business Rates policy has changed, including Business Rates retention, alternatives to property-based taxes, such as the proposed digital services tax, and how changes to Business Rates could impact businesses.

The CIOT response to the HMRC call for evidence on Amendments to Tax Returns.

The CIOT comments on Capital allowances for structures and buildings.

MPs continued their committee stage scrutiny of the Finance Bill this afternoon. Debate was initially concluded on clauses 36 and 37, relating to oil activities and petroleum revenue tax, moving on to stamp duty land tax (higher rates for additional dwellings etc), and other stamp duty and SDRT measures. The committee then move on to debate clauses 50-52, on VAT, and changes to alcohol and tobacco duties, concluding at clause 56.

The CIOT FB18-19 representations to the public bill committee.

The STPG and CIOT comments sent to HMRC on the Consultation on the draft statutory instrument: The Stamp Duty Land Tax (Administration) (Amendment) Regulations 2018.

Briefings from the CIOT on Finance (No3) Bill.

Finance Bill (No.3) began its committee stage today with two days of Committee of the Whole House scheduled for today and tomorrow. The clauses debate today focused on tax thresholds and reliefs and on Brexit.

CIOT Wales' Ritchie Tout on Welsh Government plans for a vacant land tax and the debate about housing supply. This first appeared in the Western Mail on Thursday 8 November 2018.