Corporate property ownership - a property acquired by a company from a director was not exempt from ATED
A recent First-tier Tribunal (FTT) case in which a taxpayer was found to have failed the 'exclusively' test for the purposes of property development trade relief, as the acquisition wasn’t solely for property development. Therefore, it did not qualify for the annual tax on enveloped dwellings (ATED) relief, nor was it excluded from the stamp duty land tax (SDLT) charge at 15%
House price growth slows in April
Nationwide's latest monthly house price index. It shows that annual house price growth slowed in April. And house prices fell slightly month on month in April
18 April 2024
A recent CGT case lost by HMRC
A case where the First-tier Tribunal (FTT) decided that tax was not due on a house sale, because the seller was not the beneficial owner of the property
House price growth increases in March
Nationwide's latest monthly house price index. It shows that annual house price growth edged up in March. However, house prices fell slightly month on month in March
13 March 2024
CGT on property sales & EIS investments - a case study
The CGT on the sale of a UK residential property, by a UK resident, which must be paid within 60 days of completion of the contract. This needs to be taken into account when making EIS investments to defer the payment of CGT
House price growth increases in February
Nationwide’s latest monthly house price index. It shows that annual house price growth returned to positive territory for first time in over a year in February and that house prices rose month on month in February
26 February 2024
CGT on UK property - a few quite interesting points
Taxpayers who have sold a property, which was not their main residence, must file a capital gains tax (CGT) return within 60 days of completion if a chargeable gain arises. However, there are some interesting rules that could catch taxpayers out
House price growth increases in January
Nationwide’s latest monthly house price index. It shows that, whilst property values were up in January, they were down 0.2% year-on-year. However, this was the strongest outturn since January 2023
Government consultation on transparency of land ownership involving trusts
The Government’s consultation on the transparency of land ownership when trusts are involved in the ownership structure. It seeks views on the extent to which information about trusts that own land should be made publicly available
House prices in 2024
The Nationwide’s latest House Price Review and Forecast: Rapid rebound in house prices unlikely in 2024. House prices to see low single digit decline or remain broadly flat in 2024
22 December 2023
Property CGT case lost by taxpayer at FTT
A FTT decision, in which a taxpayer lost their appeal after a judge discovered the nine cases the taxpayer cited in her defence didn’t exist and had been generated by an artificial intelligence-powered chatbot