Displaying 1-30 of 55 results
INSIGHTS VIEWPOINT
Residential land tax hike in Wales
- Dec 2024
- ICAEW Insights
In its Budget for 2025-26, the Welsh government has announced that the rates of land transaction tax (LTT) for some purchases of residential property will increase by 1 percentage point.
INSIGHTS VIEWPOINT
Scottish Budget makes income tax changes
- Dec 2024
- ICAEW Insights
The Scottish government has set out its tax plans for 2025 to 2026, announcing changes to the income tax starter and basic rate bands and an increase in the rate of the additional dwelling supplement for land and building transaction tax (LBTT).
TAX FACULTY
Tax news in brief 27 November 2024
- Nov 2024
- ICAEW Insights
Highlights from the broader tax news for the week ending 27 November 2024, including: updated HMRC advisory fuel rates; new HMRC guidance on Pillar 2; and developments with regard to land transaction tax.
INSIGHTS VIEWPOINT
ICAEW calls again for FHL brightline test
- Sep 2024
- ICAEW Insights
ICAEW’s Tax Faculty has responded to the government’s consultation on draft legislation which provides for the abolition of the furnished holiday lettings (FHL) tax regime from April 2025.
Tax news in brief 21 August 2024
- Aug 2024
- ICAEW Insights
Highlights from the broader tax news for the two weeks ending 21 August 2024, including updates on: requesting overlap relief information from HMRC; the abolition of land transaction tax multiple dwellings relief; and further changes to the legislation providing for the abolition of the pensions lifetime allowance.
Tax news in brief 17 July 2024
- Jul 2024
- ICAEW Insights
Highlights from the broader tax news for the week ending 17 July 2024, including: details of the Treasury’s new ministerial team; a change to the rules for land transaction tax; and a new VAT tool from HMRC.
INSIGHTS VIEWPOINT
HMRC rejects ‘brightline’ test for furnished holiday lets (FHLs)
- May 2024
- ICAEW Insights
In response to ICAEW’s letter on the abolition of the FHL regime, HMRC has confirmed that the boundary between property letting and trading will be judged on the facts and by reference to case law.
INSIGHTS VIEWPOINT
TECHNICAL ROUND UP
ICAEW technical round-up: April
- Apr 2024
- ICAEW Insights
This month’s top stories include community amateur sports clubs asked to check their status; MTD ITSA private beta testing relaunched; and tax administration and maintenance day summary.
INSIGHTS VIEWPOINT
Welsh government consults on LTT multiple dwellings relief
- Apr 2024
- ICAEW Insights
The Welsh government is consulting on several changes to land transaction tax, including the abolition of multiple dwellings relief.
INSIGHTS VIEWPOINT
TECHNICAL ROUND UP
ICAEW technical updates: March 2024
- Mar 2024
- ICAEW Insights
This month’s top stories include Spring Budget announcements, HMRC halting the decision to restrict helplines, and more guidance on the lifetime allowance abolition.
INSIGHTS VIEWPOINT
Draft legislation published for some Spring Budget 2024 measures
- Mar 2024
- ICAEW Insights
The Spring Finance Bill contains legislation which increases the thresholds for the high income child benefit charge and abolishes multiple dwellings relief for SDLT.
INSIGHTS VIEWPOINT
Chancellor abolishes furnished holiday lets treatment and announces stamp duty land tax changes
- Mar 2024
- ICAEW Insights
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.
Exclusive
TAX FACULTY
Time to think about ATED?
- Feb 2024
- ICAEW
- Taxline
Ahead of the next ATED deadline on 30 April 2024, Stephen Relf explains why more of us may need to engage with ATED, identifies some problem areas to look out for and asks if ATED is still fit for purpose.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
Tax Faculty responds to LTT freeports consultation
- Feb 2024
- ICAEW
The draft legislation may not give the Welsh government’s intended outcome for full and partial LTT relief for special tax sites.
INSIGHTS VIEWPOINT
TECHNICAL ROUND UP
ICAEW technical round-up: January 2024
- Jan 2024
- ICAEW Insights
This month’s top stories include mandated payrolling employer-provided benefits; information around the abolition of the pensions lifetime allowance; and an explainer on how to calculate NICs for directors.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
Scotland: new LBTT relief and changes to the ADS
- Jan 2024
- ICAEW
New relief for local authority purchases comes in from 1 April 2024, together with numerous changes to the additional dwelling supplement.
The role of taxation in achieving net zero – housing and carbon
- Jan 2024
- ICAEW
In the second of a two-part series on how to deploy taxation to help the UK reach net zero, Ed Saltmarsh, ICAEW’s Technical Manager, VAT and Customs, takes a look at housing and carbon emissions.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
LTT relief for Welsh freeports will be different
- Jan 2024
- ICAEW
Welsh government consultation on land transaction tax (LTT) relief for special tax sites in freeports and investment zones highlights six differences compared to the stamp duty land tax (SDLT) relief in England.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
Have your say: extending the LTT refund window
- Jan 2024
- ICAEW
The Welsh government proposes to extend the three-year exception and refund period for higher land transaction tax (LTT) residential rates in specified circumstances.
Exclusive
TAX FACULTY
Tax advantages and pitfalls of an earn-out
- Dec 2023
- ICAEW
- Taxline
James Moore describes the use of an earn-out in M&A transactions and highlights the risk of reclassification as earnings.
CONSTRUCTION AND REAL ESTATE COMMUNITY
Tax cut possible, says IFS expert
- Nov 2023
- Helen Miller
Despite Chancellor Jeremy Hunt saying it will be “virtually impossible” to cut taxes until the economic outlook improves, the deputy director and head of tax at the Institute for Fiscal Studies says it remains possible for individual taxes to be cut as early as the Autumn Statement. Writing in the Daily Telegraph, Helen Miller said individual measures could be considered, such as reforming stamp duty, council tax, or increasing taxes on capital gains.
CONSTRUCTION AND REAL ESTATE COMMUNITY
Hunt under pressure to deliver tax cuts
- Oct 2023
- Sir Nigel Wilson
Chancellor Jeremy Hunt is leaving a major decision on tax cuts "to the last minute" before next month's Autumn Statement, reported the Mail on Sunday. The Chancellor has reportedly been analysing Office for Budget Responsibility figures to assess whether he has any scope to deliver cuts such as a change to stamp duty rates.
Exclusive
FARMING AND RURAL BUSINESS COMMUNITY
Constant clashing on mixed usage SDLT
- Oct 2023
- Julie Butler
- Farming and Rural Business Community News
Stamp Duty Land Tax (SDLT) planning is important when buying a farm or selling part of farms “tax efficiently”. SDLT has been both in the headlines and subject to mailshot by “ambulance chasing” tax advisers looking for SDLT refunds. The case of Henderson Acquisitions Ltd v HMRC [2023] (TC8922) is an example of advisers looking for refunds of SDLT following the Bewley (TC6951) case on what qualifies as a derelict/unsuitable building and therefore be able to claim the non-residential rate of SDLT.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
Investment zones and freeports – similarities and differences
- Sep 2023
- ICAEW
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?
Exclusive
FARMING AND RURAL BUSINESS COMMUNITY
Energy saving materials and planning permission
- Apr 2023
- Julie Butler
- Farming and Rural Business Community News
The construction, maintenance and improvement of property is a key issue for almost all farmers. In this article Julie Butler considers two property related tax cases and their implications for the rural business.
Exclusive
TAX FACULTY
How the higher rates of stamp taxes apply to second homes across the UK
- Mar 2023
- ICAEW
- Taxline
The differences between how and when the higher rates apply to residential property purchases in England and Northern Ireland, Scotland and Wales go beyond the rates charged. Lindsey Wicks highlights some key variations alongside planned changes in Scotland.
Tax news in brief 29 March 2023
- Mar 2023
Highlights from the broader tax news for the week ending 29 March 2023, including: VAT penalty notices; the removal of the lifetime allowance; making MDR reports; Welsh Freeports; LBTT relief for green freeports; and an LBTT webinar series.
Tax news in brief 15 February 2023
- Feb 2023
Highlights from the broader tax news for the week ending 15 February 2023, including: Royal Assent of the Stamp Duty Land Tax (Temporary Relief) Act.
CONSTRUCTION AND REAL ESTATE COMMUNITY
Property: ADS: the hidden traps
- Feb 2023
- Bob Langridge
It is a misconception that land and buildings transaction tax additional dwelling supplement does not apply to a main residence, and purchasers can be caught out by anomalous rules.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
Changes to the main residential rates and bands of Welsh land transaction tax
- Oct 2022
- ICAEW
The Welsh Government has announced changes to the main residential rates and bands of land transaction tax. The new rates and bands apply to transactions with an effective date on or after 10 October 2022.
Displaying 1-30 of 55 results
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