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Property tax

Expert commentary and practical guidance from ICAEW related to the taxation of property in the UK regime, covering areas such as: ATED (annual tax on enveloped dwellings), business rates and stamp duty land tax.

In this section

Features and articles

Cuts to SDLT and VAT to support COVID recovery

8 July: No SDLT on houses up to £500,000 in England and Northern Ireland, VAT cut to 5% to support hospitality and a £1,000 bonus for retaining furloughed employees were the headline tax changes in the Chancellor’s Summer Statement

Webinars and recordings

Changes to CGT on residential property

PwC's Gillian Banks, Vicky Smallwood from PKF Francis Clark and Frank Haskew, Head of ICAEW Tax Faculty, explain the new rules on capital gains tax (CGT) on residential property.

Property taxes update

Following on from our popular property taxes webinar in 2016 and 2017 we are running a follow up which will concentrate on let property, looking in particular at the different taxes affecting the buy to let property owners picking up on all the recent changes.

Intermediate guide to the taxation of UK Trusts

Following on from the popular elementary guide to the taxation of UK trusts, this webinar covers: the inheritance tax regime for relevant property trusts; the impact of the changes to the taxation of dividends; capital gains tax reliefs; and tips on parts of the legislation you may not come across often.

Markel Tax FAQs

Questions and answers on UK tax issues and trends from the ICAEW Tax and VAT Helpline, a subscription service provided by Markel Tax.

Markel Tax FAQs are correct at the time of going to press. To check current validity, please call the ICAEW Tax and VAT Helpline.

TAXguide 08/15

Non-domiciliary announcements made at summer budget 2015

TAXguide 07/15

Finance Act 2015 Changes to entrepreneurs' relief

TAXguide 02/15

Capital taxes liaison group minutes

The Library & Information Service provides a collection of eBooks as a benefit of membership. Please log in to access these titles. If you are unable to access an eBook, please see our Help and support or contact library@icaew.com.

Property income

An overview of taxation of property as it pertains to small businesses in the UK, determined by the Income Tax (Trading and Other Income) Act 2005. This chapter has sections on the basis of assessment, relief for capital expenditure, losses, and furnished holiday lettings (FHLs).

Capital allowances on plant and machinery

An outline of allowances for small businesses provided under the Capital Allowances Act 2001. This chapter covers business premises renovation allowance, qualifying expenditure, qualifying building, and other relevant matters.

Daily Telegraph tax guide 2018, The: Understanding the tax system, completing your tax return and planning how to become more tax efficient

Guide to completing a Self-Assessment tax return for 2017/18, with advice and worked examples covering key aspects of personal taxation in the UK

Income from property

This chapter shows how a UK taxpayer's property income is calculated, with reference to the Income Tax (Trading and Other Income) Act 2005. It explains how property income is defined, allowable expenditure, capital expenditure, losses, less premiums, and furnished holiday lettings. The calculations are illustrated with examples.

Lease premiums

A short note explaining how to calculate lease premiums under property tax.

Stamp duty land tax

A short overview of stamp duty land tax (SDLT) payable on UK land transactions, with a brief note on stamp duty reserve tax (SDRT).

Property income

Brief chapter introducing the taxation of property income, with subsections on lease premiums, the kinds of expenditures which are tax deductible, relief for certain capital expenditures, loss relief, and furnished holiday lettings.

UK tax system: an introduction, The (3rd edition)

Guide to the UK tax system for tax practitioners and students.

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Further support

Some resources that we link to may pre-date the latest amendments to the relevant tax regulations. While these links contain useful information, please treat them with appropriate caution.

COVID-19 Support for Business

<p>Government hub collecting together essential information from Business Wales on financial support and grants, business rates, support for the self-employed, sector-specific advice, and support for employees.</p>

Webinar: COVID19 Government Support - what we know

<p>If you want clarity on what has been announced so far and what are the common questions being raised, we will look to explore these with regards to grants, loans, employees and self-employed. This webinar covers who is eligible for the Job Retention Scheme; how business rates holidays and cash grant schemes will work; how businesses can borrow from the Business Interruption Loan Scheme;and what ICAEW Chartered Accountants can do now.</p>

Coronavirus Business Support

<p>Government portal listing the full range of support measures available for UK businesses with information on how to access financial support packages, who is eligible, when the schemes open and how to apply. These cover the Coronavirus Business Interruption Loan Scheme; business rates holiday and cash grants for retail, hospitality and leisure; small business grant funding; SSP rebate; VAT and income tax deferral. There is additional separate guidance for businesses in <a href="https://www.gov.uk/guidance/coronavirus-covid-19-information-for-individuals-and-businesses-in-scotland">Scotland</a>, <a href="https://www.gov.uk/guidance/coronavirus-covid-19-information-for-individuals-and-businesses-in-wales#businesses">Wales</a> and <a href="https://www.gov.uk/government/news/covid-19-guidance-information-for-ni-businesses-employers">Northern Ireland</a>.</p>

£2.2 billion for business

<p>Announcement by the Scottish Government of a package of measures to support businesses, including a full year's 100% non-domestic rates relief for retail, hospitality and tourism companies and grants for small businesses.</p>

Support for those affected by Covid-19

<p>Information about measures announced at Budget 2020 to support public services, individuals and businesses through the economic disruption caused by the coronavirus &ndash; including additional funding, Statutory Sick Pay changes, and an increase in the Business Rates retail discount for one year.</p>

Stamp duty and other tax on property

HMRC hub with links to guidance on filing SDLT returns, tax on specific transactions, stamp duty before December 2003, and exemptions.

Stamp Duty Land Tax Manual

HMRC internal manual providing guidance on SDLT, including information on reliefs and exemptions.

Private Residence Relief: HS283 Self Assessment helpsheet

Annually updated helpsheet explaining the relief available on the disposal of a private residence. Sections cover who qualifies, CGT for non-residents, Letting Relief, calculating partial relief, residence for a dependent relative, and disposal of a settled property by trustees.

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