property taxation Archives - Page 7 of 18 - Whitefield Tax - Isle of Wight Accountants

Structures and buildings allowance legislation taking shape

by Jessica Garbett | May 16, 2019 | ACCA, business issues, property taxation

The consultation responses and the final version of the legislation on the ‘new’ capital allowance for new non-residential structures and buildings (SBA) are expected in May. As a reminder: relief is a flat rate of 2% over a 50-year period relief will be available for...

Pension scheme lifetime allowance protection

by Jessica Garbett | May 2, 2019 | ACCA, capital taxation, property taxation

Understanding options around pension allowances. An individual has a single lifetime allowance in relation to the value of benefits they can draw from their pension scheme(s) – currently £1,055,000. The value of any authorised benefits paid out in excess of their...

Proposed PPR changes explained (Principal Private Residence)

by Jessica Garbett | May 1, 2019 | ACCA, capital taxation, property taxation

Proposed changes may have an impact on the decisions over the coming year The 2018 Budget proposed changes to Principal Private Residence relief (PPR) which in turn affects whether or not an individual is liable for capital gains tax (CGT) on disposal of a property....

Non-resident property surcharges

by Jessica Garbett | Apr 10, 2019 | ACCA, capital taxation, property taxation, residence and non residence

he Stamp Duty Land Tax: non-UK resident surcharge consultation is open for comment until 6 May. It introduces the concept of a SDLT surcharge for non-UK resident individuals and certain non-natural persons purchasing residential properties in England and Northern...

Changes to the capital gains tax on disposals of UK land and property

by Jessica Garbett | Mar 29, 2019 | ACCA, capital taxation, property taxation

Be aware of CGT when disposing of land and property. Return and Payment of Capital Gains Tax within 30 days following the completion day for UK land (including buildings) when there is a charge to capital gains tax. The provisions are contained in Schedule 2 of...

VAT on commercial property

by Jessica Garbett | Mar 18, 2019 | ACCA, property taxation, VAT

An overview of key issues including ‘option to tax’. The sale or lease of a commercial property can be standard rated, zero rated, exempt or even outside the scope of VAT depending on its nature. Commercial properties can be used for various purposes such as: to use...

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Structures and buildings allowance legislation taking shape

Pension scheme lifetime allowance protection

Proposed PPR changes explained (Principal Private Residence)

Non-resident property surcharges

Changes to the capital gains tax on disposals of UK land and property

VAT on commercial property

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