Latest blogs for Specialisms

Former rugby player and Sky commentator, Stuart Barnes, has won his £695k appeal against HMRC. HMRC determined his contract for Sky from 2013 to 2019 should be subject to Income Tax and National Insurance.   Using previous case law, it was agreed there was mutuality of obligation (MOO) and a sufficient degree of control by…

Do you jointly own a property? Is this actually funded/owned other than 50:50? Are you a high earner and your spouse a basic earner?   If you have answered yes to these, then tax election notification Form 17 is an easy way to help save tax as a couple! Without this, HMRC will default to…

After Press speculation over the weekend, it’s official, HMRC have now confirmed that the introduction of Making Tax Digital for income tax is to be delayed for 2 years: https://questions-statements.parliament.uk/written-statements/detail/2022-12-19/hcws465 The mandate of MTD for ITSA will now be introduced from April 2026, with businesses, self-employed individuals, and landlords with income over £50,000 mandated to…

In the 2020/21 tax year, record amounts of CGT was recorded, with the total CGT liability increasing by 42% from the previous year. This does not come as much of a surprise, as 2020/21 was the first year the ‘CGT on UK property service’ was introduced.   However, HMRC have recently reported that, in the…

Unlike other properties, FHL’s benefit from a number of tax advantages including capital allowances on domestic items and full deductibility of mortgage interest. FHL’s also benefit from Capital Gains Tax (CGT) reliefs on disposals including Business Asset Disposal Relief, Rollover Relief and Holdover Relief.   For a property to qualify as an FHL for the…

Landlords currently using self-assessment will be required to switch to using Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA for short) and applies to all landlords whose total property income is in excess of £10,000 per year, including: • Rental income from UK rental properties   • Other UK property income such as…

The range and location of Whitings LLP clients is vast, and the specialist staff possess and equally vast level of experience, knowledge and expertise. There is, however, one thing each of us has in common, and that is property.   It is hoped that we will provide you with a diverse selection of articles which…

In a society already dominated by red tape two new registers have been created to assail us. The Register of Trusts, when announced, did not seem unduly onerous. As the requirements have become clearer we are left pondering where trusts may exist that are not immediately obvious.   Of particular relevance to agriculture, land may…

With the rising costs of energy affecting both homeowners and businesses, many are looking to renewable forms of energy to reduce their costs. Harvesting solar power with solar panels is one alternative. Sites can range from the roof of your house to hundreds of acres of rural land.   Grants are available for homeowners to…

When dealing with agricultural tenancies SDLT – Stamp Duty Land Tax can be a complex issue. On completion in England of a farm business tenancy – FBT – it’s important to establish whether an SDLT return needs to be submitted, whether it is payable and if so, how much.   For a fixed term FBT,…