Furnished holiday lets and rollover relief
11th August 2022 | Posted in Articles, Business Asset Disposal Relief, Business Property Relief by Tom Minnikin
The issue Furnished holiday lets (‘FHLs’) are treated more generously for tax purposes than normal residential buy-to-let properties. Specifically, a FHL…
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1 September 2022 trust registration deadline looms
29th July 2022 | Posted in Articles, Trusts and Estates by Andrew Marr
The issue With the exciting announcement of a new Prime Minister just around the corner, you could be forgiven for forgetting…
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Divorce and Capital Gains Tax (Should I stay, or should I go now?)
26th July 2022 | Posted in Articles, Capital Gains Tax, Principal Private Residence Relief by Phil Skrynski
As discussed in our Tax Bite of December 2020, it has always been a cruel outcome that divorcing couples who fail…
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Linked transactions can save stamp duty land tax (SDLT)
15th July 2022 | Posted in Articles, Stamp Duty Land Tax by Andrew Marr
The issue In general, SDLT linked transactions rules were introduced to stop a purchaser paying too little SDLT. Without these rules…
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Exceptional circumstances in residence test
13th July 2022 | Posted in Articles by Andrew Marr
The issue The statutory residence test (introduced in 2013) is a very scientific way of determining whether a person is UK…
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Overseas holiday homes bought through a company
8th July 2022 | Posted in Articles by Andrew Marr
The issue Generally speaking, it is not advisable to buy property for personal enjoyment through a company. This will usually trigger…
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Can a section 455 loan charge be a cheap option?
27th June 2022 | Posted in Articles by Andrew Marr
The issue Generally accepted wisdom dictates that directors’ loan accounts need to be repaid within nine months of a company’s year…
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Show all your cards in a tax clearance
20th June 2022 | Posted in Articles by Andrew Marr
The issue There are various clearance mechanisms whereby HMRC will provide assurance that they will not impose penal legislation to deny…
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Convert a property to a furnished holiday let?
13th June 2022 | Posted in Articles, Business Asset Disposal Relief, Capital Gains Tax by Andrew Marr
The issue Normally a residential rental property would be subject to a 28% capital gains tax (CGT) rate on its disposal….
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Main residence dilemmas in divorce cases
27th May 2022 | Posted in Articles, Capital Gains Tax by Andrew Marr
The issue Normal ‘no gain, no loss’ inter-spouse transfer rules still apply in the year that a couple separates. In subsequent…
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