property taxation Archives - Page 5 of 18 - Whitefield Tax - Isle of Wight Accountants

SDLT holiday – time to invest in the property market?

by Jessica Garbett | Oct 30, 2020 | ACCA, property taxation

Guidance for clients looking to benefit from the stamp duty reduction. One of the key measures announced by the Chancellor in July was the reduction in Stamp Duty Land Tax (SDLT) on residential property. The purpose of the reduction is to boost the housing market...

ACCA on Property loss relief for landlords on cessation of business

by Jessica Garbett | Oct 16, 2020 | ACCA, property taxation

One of the questions often asked by landlords is: what would happen if they have sold the last property held on their buy-to-let property business? Are the accumulated losses lost forever? The answer is – it depends. In the case where the business is treated as...

Making Tax Digital for Income Tax starts April 2023

by Jessica Garbett | Jul 23, 2020 | business taxation, HMRC, property taxation

It was announced this last week that Making Tax Digital for Income Tax will start from April 2023. This will apply to Sole Traders, Partnerships and Landlords with turnover (or rental income) over £10,000, who will need to: Submit returns of income and expenses...

All change for landlords

by Jessica Garbett | Apr 9, 2020 | ACCA, property taxation

Make sure you’re aware of new CGT requirements and finance cost restrictions for residential properties. Capital gains tax (CGT) For UK residents, there is another change in payments of CGT for disposals made on or after 6 April 2020. Return and payment of CGT has to...

Property development and property development trade

by Jessica Garbett | Jan 16, 2020 | ACCA, capital taxation, property taxation

Analysis of an important First Tier Tribunal outcome. In Hopscotch Limited v HMRC [2019] TC07127 the First Tier Tribunal (FTT) has ruled that a property development did not amount to a property development trade. Relief for the Annual Tax on Enveloped Dwellings (ATED)...

How to save IHT on a property portfolio

by Jessica Garbett | Dec 2, 2019 | ACCA, business issues, capital taxation, property taxation

We examine legislation which allows you to save money when making inheritance tax provision on properties. It is a well-known saying that ‘inheritance tax is a tax that you choose to pay’. This is because you elect not to take any action while you are able to,...

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SDLT holiday – time to invest in the property market?

ACCA on Property loss relief for landlords on cessation of business

Making Tax Digital for Income Tax starts April 2023

All change for landlords

Property development and property development trade

How to save IHT on a property portfolio

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