UHY Ross Brooke Chartered Accountants
It may surprise some readers to learn that independent taxation was not introduced until 1990. Up until that point, a married woman’s income was considered part of her husband’s for tax purposes. Thankfully, progress has been made since then and husbands and wives are now taxed separately. By Tom Annat
Our client purchased a property and incurred the full SDLT (Stamp Duty Land Tax) on the value. The property was derelict however, and our Tax Director, Phil Kinzett-Evans advised a claim on the basis it was not a ‘dwelling’ as it was not capable of being occupied as such. This
Temporary reductions in SDLT, which are set to run until 31 March 2025, were announced in the Autumn Statement: Stamp Duty Land Tax — temporary increase to thresholds – GOV.UK (www.gov.uk) By Phil Kinzett-Evans The Treasury’s view is: “Reductions in SDLT rates, or increases in the thresholds, support house purchases
On 23 September 2022, it was announced that the Stamp Duty Land Tax (SDLT) nil-rate threshold on residential property would be increased from £125,000 to £250,000. Like the abolition of the 1.25 percentage point increase in NICs, the legislation to enact the SDLT change was already in progress when the
By Phil Kinzett-Evans In a recent stamp duty land tax case, the founder of GÜ desserts was found to have erroneously made a claim that his £3m property, including a road, was non-residential in nature on the basis that the neighbouring farmer used the road for commercial purposes. Tax relief
When it’s more than one. But what constitutes multiple dwellings for HMRC? A transaction which is liable to Stamp Duty Land Tax (SDLT) may qualify for substantial relief, and property buyers can be tempted by the prospect of a tax refund. Many unscrupulous organisations are offering their services, offering to
By Tom Annat It may surprise some readers to learn that independent taxation was not introduced until 1990. Up until that point, a married woman’s income was considered part of her husband’s for tax purposes. Thankfully, progress has been made since then and husbands and wives are now taxed separately.
By Phil Kinzett-Evans The UK’s Capital Gains Tax bills jumped 20% from £10.8bn to a record high of £12.9bn in the past year*. The increase is due to a rise in tax on entrepreneurs selling businesses. HMRC increases tax take from entrepreneurs selling businesses Buy-to-let landlords take profits amid hot
Our clients asked us to advise on the correct treatment of their property purchase for Stamp Duty Land Tax (SDLT) purposes. We advised that the property had mixed-use and therefore should be subject to the non-residential rates of SDLT, which at the time of the transaction gave a more favourable
Solicitors have in the past competently filled a role where they would handle the conveyancing of a property together with the Stamp Duty Land Tax Return, which is a form that must be filed with payment within 30 days of completion in most instances. However, over the years the SDLT