Property Taxes


HMRC have published new guidance on exceptional circumstances for the purposes of the Statutory Residence Test and Coronavirus (COVID-19).

There was a debate on VAT on listed properties, in Westminster Hall, this week (4 March) led by the Conservative Craig Mackinlay, himself a Chartered Tax Adviser (CTA).

The Building Better, Building Beautiful Commission, an independent body set up to advise government on how to promote and increase the use of high-quality design for new build homes and neighbourhoods, published its final report recently with 45 policy recommendations.

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