PROPERTY
VAT and conversion services
HMRC's Policy Change on VAT for Dwellings Formed from Multiple Buildings In a significant policy shift, HM Revenue and Customs (HMRC) now accepts that a single dwelling can be...
Property – trading or capital gain
HMRC have introduced a new tax rule to take effect for property disposals made on and after 5 July 2016 by overseas investors to cause them to pay UK tax. But this might catch...
VAT – Zero or 5% VAT for building works?
Following the introduction of Permitted Development Rights HMRC has clarified its policy concerning the VAT treatment of works where an individual planning application is not...
Stamp duty and mortgages
When Is Stamp Duty Payable on a Mortgage Transfer? Stamp Duty Land Tax (SDLT) is generally not payable when property is transferred with no consideration. However, an...
Developing the garden
Considerations When Selling Part of Your Garden With the growing demand for housing, many homeowners are tempted to sell part of their garden for development. When structured...
Residential buy to lets and VAT
If you are in business as a sole trader and registered for VAT, while you do not have to account for VAT on the letting income you might be able to recover the VAT on the...
Vertical residential conversions and VAT – What is the score?
This is a bit like a football match with First Tribunal decisions going first one way and then another. Currently the score is 2-2! The point at stake is whether carrying out...
Buy to let – personal or company ownership
There is no simple answer to which is the best option, following the significant changes made to how the income is taxed when property is not held through a company. Three...
Stamp duty and second homes – relief extended
Understanding Stamp Duty on Second Homes Since 1 April 2016, buyers of second homes must pay an extra 3% Stamp Duty Land Tax (SDLT) surcharge. This applies even if the second...
Stamp duty land tax on annexes
When purchasing an additional property, buyers must pay a 3% Stamp Duty Land Tax (SDLT) surcharge. This applies to second homes and buy-to-let properties. However, concerns...
Moving a property from a company
When moving a property from a company, many assume the transfer must be treated as a benefit in kind or a standard sale. However, there is a more tax-efficient option:...
Buy to let through a company
With the restriction of the relief for interest paid on a buy to let property to basic rate only where owned by unincorporated entities it might be worth considering acquiring...
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