Yet more changes to the UK’s non-resident CGT
Since 2015, UK capital gains tax (‘CGT’) now extends to non-residents, if they dispose of UK situated residential property. This may not itself be a problem for non-residents who invest into the [...]
Developing the big garden
The focus of the recent Budget on the top rate of capital gains tax was reducing to 20% by 6 April 2016. However, the exception is for gains incurred in connection with residential property. [...]
Autumn Statement 2015 – summary of key points
The good news and the bad news. Gill Steel condenses the Autumn Statement 2015 into the key points for Private Client practitioners to take note of.
Key Tax changes announced in the Finance Acts 2015
Since April 2015 the sale of residential property in the United Kingdom owned by non-UK domiciled individuals can generate a tax charge. In the summer the government published the Summer Finance [...]
Entrepreneur’s Relief: An Update
The past year has seen many significant changes to the capital gains tax (CGT) rules applying to Entrepreneur's Relief (ER). This article summarises those key changes. There is not scope to [...]
Deeds of variation: rectification and the consequences
In Vaughan-Jones v Vaughan-Jones [2015] EWHC 1086 (Ch), the court agreed to rectify a Deed of Variation which omitted a statement that section 142 Inheritance Tax Act 1984 (IHTA 1984) was [...]
Negligible value claims and death
The importance of negligible value claims for capital gains tax (CGT) has been highlighted in agricultural circles by the fact that milk quotas ceased to exist from 31 March 2015.
The importance of tax return disclosure for Land and Property
When the words “Tax Return” spring to mind, immediate word associations for professional advisers could be “31 January deadline” and “income tax mitigation”. However, high on the list of the [...]
Sale of French properties: Franco-British Capital Gains Tax considerations
With sources reporting at least 200,000 secondary residencies owned by British nationals in France, about 400,000 British citizens living permanently in France and a similar amount of French [...]
Payment of CGT by non-residents on sale of residential property – your views required
The Autumn Statement in December 2013 included the announcement of an extension of capital gains tax (CGT) to non-resident owners disposing of UK residential property. On 28 March HMRC published [...]
