Stamp Duty Land Tax
June 7th 2016
There has been much press commentary regarding the extra 3% Stamp Duty Land Tax (SDLT) and the 3% Additional Dwelling Supplement (ADS) - part of the Land and Building Transaction Tax in Scotland - that applies to the purchase of a second residential property by individuals in the UK from 1 April 2016.
March 3rd 2016
Since the recent announcement of various changes to the taxation of unincorporated property businesses, there has been renewed interest in incorporation: would it be possible to shelter property income and capital gains inside the lower Corporation Tax regime?
January 8th 2016
George Osborne and his team seem to have a grudge against landlords and second home owners. From 1 April 2016, Stamp Duty Land Tax (SDLT) payable on the acquisition of residential property - where the property is a second home or a buy-to-let investment - will see a significant increase in the amount of SDLT payable.
July 25th 2014
Consider the following facts:
• The filing deadline for a Stamp Duty Land Tax return was a Sunday.
• A member of the advisor’s staff forgot to file the return by the end of the Friday – two days before the deadline.
• Realising their mistake, the staff member took the file home with the intention of filing over the weekend.
• Due to problems with internet access it was impossible to file the return before the deadline expired.
The return was subsequently filed the next working day, a Monday – one day late. HMRC charged a late filing penalty and the tax payer appealed.
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