Property Taxes

 


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.

This was a fairly quiet conference on the tax front for the Conservatives, new announcements limited to a stamp duty increase for foreign buyers, edging a little closer to a Digital Services Tax, tweaks to the apprenticeship levy and another year of a fuel duty freeze. Various outriders would like to see more radical changes though – especially corporation tax cuts – and there are hints these might be considered depending on the outcome of the Brexit process.

The CIOT comments sent to HMRC on FB 2018-19 Clause 6 Schedules 1-2 Disposal of assets by non-UK residents and payments on account.

A new report has called for national insurance for pensioners, replacing council tax with a tax based more closely on property values, halving SDLT and replacing inheritance tax with a lifetime receipts tax.

A CIOT proactive submission sent to HMRC on Aligning the tax treatment of Islamic finance and conventional finance.