Property Taxes


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). 

It has been widely reported that, shortly before being elected Prime Minister, Boris Johnson gave support to suggestions by the Association of Accounting Technicians (AAT) that the liability to pay Stamp Duty Land Tax (SDLT) should be switched from the buyer to the seller.  This idea leads to some interesting issues.

The CIOT comments sent to HMRC on VAT reverse charge for building and construction services.

The joint STPG and CIOT comments sent to HMRC on SDLT higher rates: additional dwellings - MOD Future Accommodation Model.

A CIOT/IFS debate on taxing commercial property asked whether it was time to retain, reform or replace business rates.

The Treasury Committee this week continued its inquiry into business rates to scrutinise how government policy has impacted business.

Business rates came in for plenty of criticism from expert witnesses during the Treasury Committee's ongoing inquiry into business rates.

The problems with the business rates system cannot be solved by just having more regular revaluations or just copying Scotland's example, the Treasury Committee’s latest evidence session on business rates heard today (7).