Stamp Duty Land Tax (SDLT) is a complex area of legislation and can have a significant tax impact if calculations are not correctly prepared. For example, where the purchaser is a company and the seller is a connected person, then the Deemed Market Value is used for...
In the Spring Budget 2024, the Conservative Government announced changes to the Furnished Holiday Let (FHL) regime from 6 April 2025. We posted an update at the time (please see: Furnished holiday let property changes | Lambert Chapman). This provided a summary of...
Recently, the headlines have been focusing on the disposal of politician Angela Rayner’s house and whether or not she correctly calculated her Capital Gains Tax (CGT) liability. Our Tax Partner, Lucy Orrow, looks at some of the main points which have been raised in...
In the Spring Budget 2024, the Government announced changes that will affect individuals who own a Furnished Holiday Let (FHL), effective from 6 April 2025. From this date, furnished holiday letting businesses will be treated in the same way as other property rental...
We are seeing a high number of HMRC ‘nudge’ letters being issued, suggesting that rental income from property has not been correctly reported. HMRC are obviously getting this information from somewhere as many of the approaches made to us have been from landlords...
Draft legislation for Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) has been issued by HMRC. From April 2024, individuals with a turnover of £10,000 or more from self-employment or property income will be required to make quarterly submissions with a...
