The system is increasingly haphazard, the Institute for Fiscal Studies has warned
Mr and Mrs B (TC3395)
A client and his mother owned the freehold of a small block of flats and the client inherited his mother’s share on her death. He has a long lease on one of the flats, which is his main residence
A new company has constructed and installed a wind turbine for a considerable sum on land that is rented from a farmer for a share of profits
A brother and sister own a property that is let out. The sister says she wants nothing to do with the property and the brother receives all of the rent. Will this income be taxed on the brother only? It is intended that the brother’s company will receive some of this income in future
A woman wishes to buy a property in Florida. She and her husband are 50:50 shareholders of a limited company through which she carries on her trading business. The company is cash rich, so the client is considering a joint purchase of the property
A brother and sister own a property they inherited 20 years ago. It has been used by family members and more recently has been let out. To benefit her brother, the sister has suggested she could purchase his interest in the property
Each Taxation writer provides a tetrad of analyses of the chancellor’s announcements
A husband and wife own a property as tenants in common but plan to sell to a new limited company
Two shareholders own eight properties through an investment company. They wish to go their own way and would like to achieve this by forming two separate companies, each owning four properties
To mitigate income tax liability, a client transferred commercial property into the joint names of himself and his wife. However, only his share is eligible to capital gains tax entrepreneurs’ relief
The previous accountant of a new client showed the income and expenditure relating to five let properties as being from self-employment. The presumption is it should be shown as income from property