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Practical points 2020 - Property taxes

Guidance from ICAEW's Tax Faculty for practitioners on the latest developments in practice, policy and legislation related to property tax, including: annual tax on enveloped dwellings (ATED); business rates; capital gains tax relief; and stamp duty land tax. These brief practical points are published each month in the faculty's magazine TAXline.

Contributed by Caroline Miskin

Andy Tall wrote about the migration of corporate non-resident landlords from income tax to corporation tax in April 2020 in the November 2019 issue of TAXline. In Agent Update 75, HMRC indicated that it intends to write to each corporate non-resident landlord in late January to early February 2020 to let them know their corporation tax unique taxpayer reference number (CT UTR) and list the actions that they need to take straight away and those actions that can be done later. This will be based upon information provided in the 2017/18 non-resident company income tax return. A separate exercise will be performed for those that did not file an income tax return in 2017/18.