The father of two grown-up children has purchased their first homes using buy-to-let mortgages. The children reimburse their father for the monthly mortgage payments each month
By John Feaster; £68.50; third edition; paperback; 246 pages; Claritax Books
The only activity of a limited liability partnership is as a property investment business. Tax losses are being carried forward with some reduction by subsequent profits. One of the partners now has personal property income, but the LLP losses cannot be set against it
HMRC have published guidance on the stamp duty land tax (SDLT) treatment of de-enveloping transactions, which are expected as firms move to duck the new annual tax on enveloped dwellings (ATED).
Companies may de-envelope a property by a capital distribution to shareholders following liquidation of the company. The tax consequences of de-enveloping will depend on whether or not there is consideration given by the shareholders for the transfer of the property.
Does the working farmer relief apply to property transferred on the death of a husband to his wife, who was a partner in a farming business?
Tax experts have raised concerns about the government’s plan to impose capital gains tax (CGT) on overseas residents who sell UK property, calling it an attack on rich non-voters and warning that it could discourage foreign investors.
The chancellor, George Osborne, announced the charge in his autumn statement today, after weeks of speculation it would form part of an anti-avoidance package in his speech to the Commons.
A flat management company owns the freehold of two houses divided into eight flats. Originally, six of the lessees owned shares in the company, but the other two have now also purchased shares. The lessees wish to extend their leases
HMRC have commissioned an enhanced stamp duty reserve tax (SDRT) assessment system, which is scheduled to go live in June 2014.
The aim of the new offering – developed and delivered by financial services company Euroclear UK & Ireland Ltd – will be to rebalance the established market practice of gross transactions being sent for reporting and assessment for SDRT at a centralised point.
FA 2013 changes to solve inheritance tax problems can cause unexpected stamp duty liabilities
Responsible stamp duty land tax planning is possible in spite of three sets of legislative provisions
HMRC are inviting claims for overpaid stamp duty land tax (SDLT) from charities that purchased a property jointly with a non-charity purchaser.
A business is owned by a father and his two sons and operates from land owned equally by them and shown as a partnership asset. The father intends to retire, but wishes to keep his share of the land. One son will then purchase the other’s share