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10 September 2020 0 Comments Posted in Private Client

SDLT Refunds: what if Covid-19 has delayed a property sale?

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stamp-duty

The impact of the Covid-19 pandemic on the housing market has been widely reported, with a near complete halt on transactions during lockdown.  This was undoubtedly frustrating for those keen to move but arguably even more so for individuals looking to reclaim an additional 3% of SDLT previously paid as a result of the higher rates now attaching to second homes.

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Tax changes just round the corner?

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Budget-jar

The Autumn budget is fast approaching and, as usual, there is much speculation in the financial press as to plans which may be announced by the chancellor.

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The tale of Covid-19, the Statutory Residence Test and “Exceptional Circumstances”

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Travel in coronavirus

The Covid-19 pandemic has caused great uncertainty for many clients, including those who have found themselves stuck in a jurisdiction, unable to leave on the date they intended. It has triggered particular concern for non-UK resident individuals whose tax status may be impacted by a longer stay in the UK.

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5 December 2019 0 Comments Posted in Opinion, Private Wealth

What does the General Election mean for your pocket?

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The country is facing its first December General Election since the 1920s. But which party will play Scrooge to the other’s Santa this Christmas?

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6 June 2019 0 Comments Posted in Opinion, Private Wealth

Wasting assets and tax – there’s nothing to wine about!

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Wine bottles private wealth

Hawksmoor’s recent error – accidentally serving a £4,500 bottle of wine instead of a £260 bottle of the same vintage – wasn’t ideal for the restaurant. But if a similar mistake had been made by a wine investor, he or she might have lost out on a tax-efficient return

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11 April 2019 0 Comments Posted in Opinion, Private Client, Private Wealth

What’s the latest on Income Tax for Furnished Holiday Lets?

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There are a number of income tax advantages for Furnished Holiday Lets (FHLs) which are not available to owners of regular buy-to-let properties – these advantages are making FHLs an increasingly attractive option for landlords.

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13 March 2019 0 Comments Posted in Private Client, Private Wealth

What’s the latest on Capital Gains Tax for Furnished Holiday Lets?

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In our previous article we focused on the uncertain inheritance tax treatment of furnished holiday lets (FHLs) and whether they can be classified as business assets which attract business property relief.

The position in relation to income tax and capital gains tax (CGT) is however much clearer – qualifying FHLs are considered to be trading businesses for both income tax and CGT purposes.

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6 February 2019 0 Comments Posted in Opinion, Private Wealth

What’s the latest on Inheritance Tax for Furnished Holiday Lets?

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Owners of furnished holiday lets (FHLs) are often surprised at the seemingly incongruous tax rules which apply to their businesses. Whilst for income tax and capital gains tax purposes, FHLs are generally treated as “trading” businesses and taxed accordingly, the position is very different for inheritance tax purposes.

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31 October 2018 0 Comments Posted in Private Client

Budget 2018 – Further steps by the Government to limit tax reliefs available to owners of multiple properties

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multiple lets landlord private wealth

This week’s budget was not exactly ground-breaking for Private Wealth clients and their advisers, although this was no doubt a welcome break, particularly for international clients, following the significant non-dom changes introduced from April 2017 and April 2018.

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