Chancellor abolishes furnished holiday lets treatment and announces stamp duty land tax changes

From April 2025, taxpayers will no longer be able to treat their property business as a furnished holiday let (FHL). Stamp duty land tax multiple dwelling relief (SDLT MDR) will be abolished from 1 June 2024.

HMRC u-turns on double cab pickups

HMRC will continue to treat double cab pickups as goods vehicles for the purposes of the BIK and capital allowances rules.

HMRC prompts companies to review AIA claims

HMRC has written to companies that may need to share their AIA with fellow group members and related companies.

Camping pods and capital allowances

Premium Content: This is exclusive item - please log in or subscribe to view this item.

What is a building for capital allowances purposes? This was the question in a recent tax case concerning camping pods, as Stephen Relf discovers.

Changes to the cash basis for traders

Premium Content: This is exclusive item - please log in or subscribe to view this item.

Richard Jones considers the changes provided for by Finance Bill 2023-24 to the cash basis for trades subject to income tax.

HMRC clarifies capital allowances rules for partnerships

HMRC has updated its guidance to make it clear that a partnership which includes a corporate member may claim capital allowances generally restricted to companies. These include the super deduction and full expensing.

Emerging opportunities and pitfalls in real estate tax

Premium Content: This is exclusive item - please log in or subscribe to view this item.

Guy Richardson and Mark Fielden, from the real estate and construction team at Moore Kingston Smith, recently presented an ICAEW webinar on “Emerging opportunities and current pitfalls in the tax regime for property investment and trading”. In this article we want to accentuate some of the practical tax complexities discussed in the webinar. Subsequently, in light of the Chancellor of the Exchequer’s recent Autumn Statement on 22 November 2023, we want to explore how current tax policy continues to create uncertainty in the real estate and construction sector.

Chancellor confirms full expensing will be permanent

The full expensing regime will not expire on 31 March 2026 and will be made permanent, the Chancellor announced at the Autumn Statement on 22 November 2023.

Investment zones and freeports – similarities and differences

Investment zones were refocused at the Spring Budget 2023. They are intended to grow the economy by focusing on places with significant unmet productivity potential and building on their existing strengths. How do they compare to freeports?

Buying commercial property from non-taxpayers

Premium Content: This is exclusive item - please log in or subscribe to view this item.

Bryan Crawford considers the capital allowances actions that advisers should be taking when advising non-taxpaying sellers or buyers of commercial property.