20 10, 2020

Stamp Duty Land Tax surcharge

By |2020-10-20T15:38:36+01:00October 20th, 2020|Real Estate, Real Estate, Services, Tax|

Frequently Asked Questions about: Stamp Duty Land Tax – surcharge for non-residents Raising taxes on property has been an easy target for the government for a number of years.  Aside from increasing the scope of capital gains taxes on property, particularly on non-residents, the 3% surcharge for second properties was one of a number of changes aimed at specifically increasing [...]

30 09, 2020

Inheritance tax 101

By |2020-10-05T17:05:07+01:00September 30th, 2020|Private Client, Services, Tax|

Inheritance tax - What is it and who pays it? Definition: Inheritance Tax: a tax on the estate, normally property, money and possessions, of someone who has died. Also known as IHT. The standard Inheritance Tax rate is 40%. It’s only charged on the part of your estate that’s above the threshold. Who pays: We are all allowed to leave [...]

24 06, 2020

Extended deadline to notify VAT option to tax

By |2020-10-05T15:23:22+01:00June 24th, 2020|Commercial, Corporate, Finance, Tax|

Extended deadline to notify VAT option to tax As part of its response to the Covid-19 pandemic, HMRC extended from the usual 30 days to 90 days the period in which a taxpayer is required to notify an option to tax over property to be made. Initially this extension only applied to options made between 15 February 2020 and 31 [...]

8 06, 2020

Stamp Duty Land Tax Relaxation

By |2020-10-05T16:15:43+01:00June 8th, 2020|Real Estate, Services, Tax|

Relaxation of 3 year rule for reclaiming 3% Stamp Duty Land Tax supplement Since 2016 purchasers of second homes have been subject to an additional 3% supplement on the SDLT they pay.  This rule generally does not apply to individuals who buy and sell their main residence on the same day. However, where a seller has been unable (or unwilling) [...]

30 10, 2018

Budget 2018: Key points

By |2019-09-23T11:33:29+01:00October 30th, 2018|Corporate, Employment, Real Estate, Services, Tax|

There was more content to the Chancellor’s Budget than was expected.  Here are some of the most note-worthy announcements. Property As previously announced, with effect from April 2019, all non-residents who realise a gain on the sale of UK land, whether commercial or residential, will be subject to tax in the UK.  They will also be subject to tax on [...]

7 02, 2017

Breakfast Seminar: Tax and Residential Property Structures

By |2017-02-07T11:59:38+00:00February 7th, 2017|About Us, Real Estate, Real Estate, Tax|

When: Wednesday 22nd February 2017 arrival from 8am for a 8:30am start Where: Teacher Stern Offices, 37 - 41 Bedford Row, London, WC1R 4JH What: A practical session on what to do with existing residential property structures from a tax perspective Who: Sarah Cardew, Tax Partner of Teacher Stern LLP and Michael Thomas, Tax Barrister of Pump Court Tax Chambers Places are limited, [...]

31 08, 2016

IHT to be Charged on UK Residential Property Owned by an Offshore Company or Trust

By |2019-09-23T11:33:33+01:00August 31st, 2016|Private Client, Real Estate, Services, Tax|

What are the changes? The Government is consulting on changes which will mean that non-domiciles can no longer escape a UK IHT charge on UK residential property by owning it through an offshore vehicle such as a company or trust.  The period for consultation runs until 20 October 2016 and the changes will come into effect from 6 April 2017. [...]

22 03, 2016

Budget Briefing 2016

By |2016-03-22T15:23:28+00:00March 22nd, 2016|Tax|

In this budget briefing we have focussed on the SDLT changes which bring additional complexity for residential property transactions. SDLT: higher rates on purchases of additional residential properties From 1 April 2016, higher rates of SDLT will be charged on purchases of additional residential properties e.g. second homes, holiday homes and buy to let properties.  The higher rates will be 3% above [...]

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