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JOHN T NEWTH FCA, FTII, FIIT, ATT outlines some tax issues that property investors should consider.
THE TAXATION OF property is a vast subject, and I only intend in this article to highlight some current issues that private home owners and property investors in general might find helpful. Although there is a current reduction in property prices, property investment is still an attractive proposition in many instances.
JOHN T NEWTH FCA, FTII, FIIT, ATT comments on the latest developments regarding tax credits.
TAX CREDITS HAVE certainly been in the news recently. Media coverage of reports by the Citizens Advice Bureau and the Parliamentary Ombudsman have extended not only to the professional press, but also to the national popular press and television.
John T Newth FCA, FTII, FIIT, ATT discusses the new P35 filing obligations.
SELF ASSESSMENT BY means of personal income tax returns must be deemed to be very successful by the Government and the Inland Revenue. Not only has it passed over the tax assessment and collection functions from the Revenue to taxpayers, but more tax has been brought in and much earlier. Added to this are the penalty and interest provisions and it is a well-known fact that £millions have been imposed each year in this respect and are a windfall to the Government.
Season's Greetings
A Time to Relax — And Smile
JOHN T NEWTH FCA, FTII, FIIT, ATT introduces some humour to brighten the winter season.
LET'S START WITH some tax orientated stories. First of all, wouldn't it be good to match the subjects at a conference with the names of the speakers? The following are suggestions:
JOHN T NEWTH FCA, FTII, FIIT, ATT reports on TaxAid's recent Tax Essentials conference.
Speakers were John Dobing FRICS, Gerry Hart CTA (Fellow), ATT and Peter Gravestock FCA, FTII, ATT.
The conference notes can be purchased from TaxAid (Conference Department), Room 304, Linton House, 164-180 Union Street, London SE1, OLH.
JOHN T NEWTH FCA, FTII, FIIT, ATT considers some recent appeals.
Not predominantly tax avoidance
A well-known bank had a wholly owned subsidiary, RBS Property Developments Limited. The subsidiary was not included in the VAT group of which the bank was the representative member.
JOHN T NEWTH FCA, FTII, FIIT, ATT summarises some recent tribunal decisions.
Caught by the regulations
A golf club operated as a limited company and had been extended at a cost of £1.7 million during the year ended 31 March 1999.
No election had been made to waive exemption to tax for VAT purposes on the golf club, health club and conference centre, all of which were rented to companies incorporated to deal with those aspects. A contracted company had carried out the building works and those works qualified for treatment under the capital goods scheme.
