Latest Property

Transferring Second Property into Joint Names: Beware SDLT trap! We commonly advise married clients who are considering a transfer of rental property from one spouse into joint names. Where the owner spouse is a higher rate taxpayer, there is often a potential to make use of the other spouse’s basic rate tax band. The potential income…

Budget 2016: New CGT planning opportunities. George Osborne’s latest Budget heralded an unexpected reduction in CGT, lopping 8% off both the 18% and 28% rates. But not for residential property- George continued his attack on residential landlords. However, it may well be that sales of other assets are now best deferred until post 5 April…

+3% Extra Stamp Duty Land Tax: Unless you purchase before 1 April. Property investing clients will be aware than plans for a 3% stamp duty land tax surcharge for property purchases over £40k of second homes and  buy-to-lets are due to come into effect on 1 April 2016. This leaves a small window of opportunity…

Annual Tax on Enveloped Dwellings (ATED): Threshold reduced. The ATED charge applies to companies which own residential properties. On 1 April 2016, the lower threshold will be reduced from £1 million to £500,000. This will mean that many more companies will be caught within the ATED rules. The deadline for submission of the 2016/17 forms,…

Property Investors: Chancellor announces further tax changes. In his Autumn Statement George Osborne has announced two significant further tax changes for residential property investors: Firstly, Stamp Duty Land Tax rates will be increased by3% on purchases of residential properties, such as buy to let properties and second homes. This measure takes effect from 1 April…