Property tax

Tax / OTS seeks tax professionals

The Office of Tax Simplification (OTS), the statutory body which is an independent office of the Treasury and gives independent advice to the government on simplifying the UK tax system is looking for people to join its team

Tax / Draft Finance Bill (No.2) 2017 published

The government has published the draft Finance Bill (No.2), which will have its second reading in the House of Commons on Tuesday 12 September, the first time that MPs will be able to debate the proposals

Tax / December 2017 end date for HMRC payments at Post Office

HMRC has confirmed that from 15 December 2017 taxpayers will not be able to make payments for outstanding tax bills at any Post Office via cheque, cash or card

Tax / Finance Bill (No.2) to be published 8 September

The government has announced the Finance Bill will be published on Friday 8 September, following the delays caused by the April snap election

Tax / Airbnb hit by tourist tax in Quebec

The government of Quebec has reached an agreement with Airbnb to collect an accommodation tax (TSH) on all rentals in the province in what is being described as the first ‘tourist tax’ on online lettings in Canada

Tax / 3% SDLT surcharge raises extra £2bn

Property transactions over the past twelve months have remained largely flat, but the Treasury has gained an extra £2bn in tax due to the 3% stamp duty land tax (SDLT) on additional residential properties, according to analysis by Blick Rothenberg

Tax / Buy-to-let landlords look to overseas properties

With the buy-to-let property market under pressure more landlords are considering to add luxury overseas properties to their portfolios with a large number of sales reaching the £78m mark

Tax / Economic trends: rising taxes on buy-to-let landlords

Martin Beck, senior economist at Oxford Economics warns about the risks of an increasingly unaffordable property market and threat of ever rising taxes on buy-to-let landlords, making it harder to expand home ownership

Tax / Taxation for landlords: the cash basis

Plans to move landlords onto the cash basis have been put on hold due to the recent general election but are likely to make it into the second Finance Bill in autumn. Stephen Relf ACA CTA, tax writer at Wolters Kluwer, considers the implications of the cash basis for landlords 

Tax / Online service launched for estates under inheritance tax threshold

HMRC has introduced an online service for estates that are unlikely to pay any inheritance tax (IHT) as they are under the £325,000 threshold

Tax / Inheritance tax: residence nil rate band (RNRB) explained

The residence nil rate band (RNRB) is important to consider when estate planning and protecting property for direct descendants but there are some tricky tax considerations. Nimesh Shah, partner at Blick Rothenberg, explains how it works and potential pitfalls

Tax / Holiday lets taxation centre stage at Edinburgh Festival

As the Edinburgh Festival gets underway, the Scottish Green party is claiming £10.6m of tax receipts are being lost because of the way the property taxation regime operates in relation to the growing number of homes locally let out as holiday accommodation via online booking sites

Tax / Editor’s comment: coming to its senses on Making Tax Digital

The government's decision to delay Making Tax Digital quarterly reporting until 2020 was welcomed by the tax profession and business, and signalled recognition that HMRC itself was not ready for the digital overhaul of tax reporting as the project was flagged as high risk amber/red in the Infrastructure and Projects Authority (IPA) annual report. Sara White, editor of Accountancy considers the implications 

Tax / Nunn: listen and learn HMRC

Yvette Nunn, director of Berkeley Associates, welcomes the government's decison to delay HMRC’s Making Tax Digital project implementation until 2020, except for VAT, so that small businesses and landlords have more time to prepare, but warns that there are fundamental problems with current HMRC IT systems which need to be addressed

Tax / HMRC forces trusts and estates to register online by 5 October

All trusts and estates with a tax liability must register online via the HMRC trusts and estates online service by 5 October following the withdrawal of paper form 41G (Trusts)