All posts with the topic: annual residential property tax

Territorial limitations on the scope of UK taxes open up the possibility of tax free property development. At least this is the case for non-UK residents who can arrange matters such that they avoid a permanent establishment in the UK (for example, a site office or show-home) and are resident in a jurisdiction with a … Continue reading Profits from Trading in and Developing UK Land

Extension of taxation on UK residential property held by non-natural persons As one of a number of measures aimed at tackling tax avoidance, the Government is extending the package of taxes on “enveloped dwellings”, lowering the threshold so that the relevant taxes apply to residential properties worth over £500,000 (rather than only to those worth … Continue reading More changes afoot for taxation of residential properties…

There had been speculation that the introduction of the Annual Residential Property Tax, as well as extension of the capital gains charge, would be deferred. But not a bit of it. The new tax and the extended charge will come into force from 1st and 6th April respectively as originally planned. Whilst confirmed today, details on the precise … Continue reading High-value residential property update

Next week’s Finance Bill will include the new general anti-abuse rule (GAAR) which is expected to come into effect in June or July 2013.  It is perhaps a measure of the changing political climate over the past year that the GAAR, which was initially very controversial in some quarters, is now widely regarded as necessary … Continue reading The GAAR

The Government released further details of the proposed new taxes on UK residential property owned by “non-natural persons” on Tuesday 11 December.   The news   Most of the news is good. The scope of the charges have been restricted. The CGT charge will now only apply to gains accruing after April 2013, and not … Continue reading The pressure’s off to restructure high value residential real estate before Easter

We were expecting a number of changes aimed at stamping out stamp duty land tax (SDLT) avoidance but the changes announced by the Chancellor have gone far further than was expected.  They include: 7% SDLT charge on the acquisition of residential properties over £2 million from tomorrow, 22 March 2012. 15% SDLT charge when residential properties of over £2 … Continue reading Stamp duty shock announcements and a CGT surprise