Property Taxes


Conservative John Stevenson, a solicitor, opened a debate on stamp duty by saying the key issue in housing policy is to get the mix between property ownership, the private rented sector and social housing right. He wants to see a national housing framework with a more flexible local policy.

Liveblog on the first day of committee stage debate on the Finance Bill, with debates on clauses on the bank levy, SDLT for first time buyers and income tax treatment of armed forces’ accommodation allowances. 

The CIOT comments sent to HMRC on Large Business compliance - enhancing our risk assessment approach.

HMRC has confirmed that the 5 October 2017 deadline will be extended further to 5 January 2018. This means that trusts which have incurred a liability to Income Tax or Capital Gains Tax for the first time in 2016/17 will need to complete registration on the TRS by no later than 5 January 2018. This extension is only for the first year of TRS and also applies to the registration of complex estates. 

Below are the briefings / submissions produced on the current Finance Bill by CIOT. Generally speaking documents were provided to Labour and SNP spokespeople as briefings but also made as formal submissions to the Public Bill Committee. 

A liveblog on the fourth public bill committee sitting of Finance Bill 2017-19, which took place on the afternoon of Thursday 19 October 2017. Covers clauses 29-42 of the Bill, including deemed domicile, overseas property and disguised remuneration.

The CIOT comments sent to HMRC on Non-resident companies chargeable to income tax and non-resident capital gains tax.

In our response to the Government’s Fixing our broken housing market consultation, we compared the UK tax consequences of the traditional model for the sale of land for residential development in the UK with various routes to land pooling. Our conclusion is that there needs to be a level playing field in tax terms.

We have sent our comments to HMRC on the draft Finance Bill clauses published on 31 January.

From April 2018, Land Transaction Tax (LTT) will replace UK Stamp Duty Land Tax (SDLT) in Wales.  A number of suggestions by CIOT to make it work in practice have been included in recommendations in a Welsh Finance Committee report.