Are you considering selling a residential property? When is the transaction likely to complete? Have you considered the Capital Gains Tax implications if it isn’t your only and main home? New rules from 6 April 2020 impact sellers of residential property which...
Termination of Lettings Relief and Acceleration of Stamp Duty With effect from 6 April 2020, the Principal Private Residence (PPR) extension has been reduced from 18 months to just 9 months (oh for the halcyon days when it was a full 36 months). Another measure being...
As a Solicitor involved in the conveyancing of residential property or divorce settlements, you may already be aware of some of the new rules being introduced by HMRC from 6 April 2020. The most drastic of these is the requirement to report and pay capital gains tax...
With effect from 6 April 2020, the Principal Private Residence (PPR) extension has been reduced from 18 months to just 9 months (oh for the halcyon days when it was a full 36 months). Rental Properties A second measure being introduced is the restriction in the...
Following on from Lucy Orrow’s article on “Incorporating your Rental Business”, I thought I would share some common misconceptions that are made by clients when discussing the subject of Renral Income from Residential Property. I don’t need to declare my rental income...
The Statutory Residence Test has been around since 2013 and has given a proper basis for determining residence status. Our client left the UK in 2012 and subsequently made a large capital gain on the disposal of shares in a unlisted trading company. This was not...
