Private Client Services news

The Spending Review and Autumn Statement Points to Note

Stamp Duty – A Rush for Completion? From 1 April 2016 higher rates of Stamp Duty Land Tax (SDLT) will be charged on purchases of additional residential properties such as buy to let properties and second homes. The higher rates will apply to...

EU Succession Regulation

Different countries have widely differing rules on succession to the assets of deceased persons. The EU Succession Regulation (known as Brussels IV) has been introduced to harmonise rules within the majority of EU countries. When and where does it apply? ...

Entrepreneurs relief: directorships and employment

The First-tier Tribunal (Tax Chamber) has allowed a claim for entrepreneurs’ relief by the former director of a company on the basis that he was an employee of that company after he resigned from it, but not a director or shadow director of it. The...

Capital Gains Tax (CGT) Update

Generally, non-UK resident individuals are not currently liable to pay CGT when disposing of a UK property. However, the UK Government recently conducted a consultation on whether non-UK resident individuals should become subject to CGT on the disposal of...

Changes to the Rules of Intestacy

When a person dies without leaving a valid will, they are said to have died intestate. In this case, their assets must be distributed according to specific “rules of intestacy” – and these rules have changed from 1 October 2014...

Directors business use of company assets

It is a common misconception that only the private use of a company asset can give rise to a taxable benefit. Owner-managers, who invariably have power and control over assets, need to be particularly aware that business use of a company asset may give rise...

Tax Changes Affecting Residential Properties Purchased Through Companies

The taxation of properties worth £500,000 – £2million owned by companies has been changed significantly by the budget of 19 March 2014. The changes mirror those already in operation for companies owning residential property worth £2m...
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