First Edition 2014 by Christopher Cox and Richard Woolich
|
|
- Walter Quinn
- 5 years ago
- Views:
Transcription
1 Stamp Duty Land Tax
2 First Edition 2014 by Christopher Cox and Richard Woolich Published in 2014 by Sweet & Maxwell, Friars House, 160 Blackfriars Road, London, SE1 8EZ part of Thomson Reuters (Professional) UK Limited (Registered in England & Wales, Company No Registered Office and address for service: Aldgate House, 33 Aldgate High Street, London EC3N 1DL). Sweet & Maxwell is a registered trademark of Thomson Reuters (Professional) UK Limited. For further information on our products and services, visit Typeset by Letterpart Limited, Caterham on the Hill, Surrey, CR3 5XL. Printed and bound in Great Britain by CPI Group (UK) Ltd, Croydon, CR0 4YY No natural forests were destroyed to make this product; only farmed timber was used and re-planted. A CIP catalogue record of this book is available for the British Library. ISBN: Thomson Reuters and the Thomson Reuters logo are trademarks of Thomson Reuters. Crown copyright material is reproduced with the permission of the Controller of HMSO and the Queen s Printer for Scotland. All rights reserved. No part of this publication may be reproduced, or transmitted in any form, or by any means, or stored in any retrieval system of any nature, without prior written permission, except for permitted fair dealing under the Copyright, Designs and Patents Act 1988, or in accordance with the terms of a licence issued by the Copyright Licensing Agency in respect of photocopying and/or reprographic reproduction. Application for permission for other use of copyright material, including permission to reproduce extracts in other published works, shall be made to the publishers. Full acknowledgement of the author, publisher and source must be given Thomson Reuters (Professional) UK Limited
3 Introduction Stamp duty land tax is almost eleven years old and there has been virtually no raising of the thresholds to adjust for inflation and it is a major source of revenue for the Government. And it has become more complicated. For example, in recent years we have had new sub-sale rules, the 15 per cent rate, relief for multiple purchases of dwellings and the general anti-abuse rule ( GAAR ). We have tried to write a clear explanation of the tax in its present form which we hope will be useful to anyone involved in commercial or residential property, especially tax and property practitioners. We want to thank John Dunlop and Matthew Spencer of DAC Beachcroft s tax department for their valuable suggestions and encouragement and Georgina Cox for her assistance with word processing. Notes to the reader The law is stated as at July 17, 2014, the date of Royal Assent to the Finance Act Statutory references in the footnotes are to the Finance Act 2003 as amended, unless another Act is stated. The book does not deal with the new tax, the land and buildings transaction tax, which is about to replace SDLT on Scottish land, and because this replacement is imminent it does not deal with the (comparatively few) special SDLT rules relating to Scottish land. Whenever a third person singular pronoun is needed and the antecedent could be either male or female (or generally a legal person) we have used he, him etc. ( when the purchaser has completed he must within 30 days deliver a land transaction return ). We hope that readers are not offended by this. It avoids v
4 Stamp Duty Land Tax the tedious continual use of he or she, the irritating s/he and the ugly and ungrammatical they ( when the purchaser has completed they must ). Christopher Cox DAC Beachcroft LLP Richard Woolich DLA Piper UK LLP vi
5 Contents Introduction Table of Cases Table of Statutes Table of Statutory Instruments PAGE v xvii xxiii xxxvii 1 Outline and background 2 Structure of SDLT Outline of SDLT 1 Background to SDLT 3 The yield from and effect of SDLT 7 The SDLT legislation and how it is amended 9 A tax on acquisitions. Chargeable interests 11 Acquisition. Vendor and Purchaser 14 The effective date: s Acquisition without preceding contract 16 Contract to be followed by completion document: s Substantial performance: receipt of rents and profits: s.44(6)(a) 18 Substantial performance: payment of consideration: s.44(5)(b), (7) 18 Substantial performance: taking possession: s.44(5)(a), (6) 20 Substantial performance: procedure: s.44(8), (9) 22 Price apportionment: Sch.4 para.4 23 Fixtures and chattels 24 Fixtures and chattels: what the parties should do 26 Purchase of a business as a going concern. Goodwill 27 Goodwill: what purchasers should do 30 Quasi-purchases: s.44a 30 Joint purchasers: s.103, Sch.16 para.3 32 vii
6 Stamp Duty Land Tax 3 The Rates Interaction with other taxes 33 The rates: s What counts as residential property: s Institutional accommodation: s.116(2) (5) 39 The six-or-more dwellings rule: s.116(7) 40 Acquisitions of more than one dwelling: decoupling and averaging: Sch.6B 41 Decoupling and averaging: the clawback: Sch.6B, para.6 44 Linkage: ss.55(4), 108, Sch.5 para.2(5) 45 Linkage: procedure: s.81a 48 The 15 per cent rate for higher value dwellings bought by companies: Sch.4A 49 The 15 per cent rate: the exceptions: Sch.4A paras 5 5F 51 The 15 per cent rate: the exceptions clawback: Sch.4A paras 5G 5K 54 4 Chargeable consideration: cash The basic rule 57 Simple delayed payment 58 Contingent, uncertain or unascertained consideration: s Contingent, uncertain or unascertained consideration: later adjustment: s Contingent or uncertain consideration: postponement of tax: s.90 and SDLT (Administration) Regulations 2003 rr Value added tax: Sch.4 para.2 64 Value added tax: transfers of businesses as going concerns 65 5 Chargeable consideration: debts Acquisition in satisfaction of debt: Sch.4 para.8(1)(a) 67 Acquisition with assumption of debt: Sch.4 para.8(1)(b) 68 Transfer subject to secured debt: Sch.4 para.8(1) (1C) 68 Joint names cases: Sch.4 para.8(1b), (1C) 70 viii
7 Contents 6 Chargeable consideration: in kind Consideration in kind 73 Land exchanged for non-land asset: Sch.4 para.7 73 Land exchanged for land: s.47 and Sch.4 para.5 74 Partitions: Sch.4 para.6 77 Transfer of land in consideration of services other than works: Sch.4 para.11(1) 77 Transfer of land in consideration of works: Sch.4 para Works: computing the chargeable consideration: Sch.4 para.10(3)(b) 81 Package deal for purchase of site and erection of building 83 7 Companies. Market Value 8 Sub-sales etc. Companies for SDLT 87 Definition of company 87 Holding property in a company as a means of SDLT minimisation 88 Transfers to connected companies: the market value rule: s Market value 92 Exceptions to the market value charge: s Company distributions and debt 96 The land law background 99 The old SDLT exemption for B: old s The new exemption: new s.45 and Sch.2A 104 Sub-sales 105 Assignments 109 Novations 110 Who is the Vendor? Sch.2A paras 8, 10, SDLT avoidance arrangements: Sch.2A para Back-to-back sub-sales: completion arrangements 111 Compliance 112 ix
8 Stamp Duty Land Tax 9 Leases: the charge on rents Introduction 113 What is a lease? 114 The term of a lease 115 The rates: Sch.5 para Net present value: Sch.5 paras 3, Chargeable rent: fixed term leases: Sch.5 paras RPI-indexed rents: Sch.17A para.7(5) 121 Turnover rents 122 Abolition of the abnormal rent increase rules 122 Fixed term leases: tax planning 122 Fixed term leases: holding over, then new lease granted: Sch.17A paras 3, 3A, 9A 123 The position of an assignee: Sch.17A para Fixed term leases: holding over but no new lease granted: Sch.17A para.3(6) 129 Periodic leases: Sch.17A para Linked leases: Sch.5 paras 2(5), (6), Sch.17A para Value added tax 131 Service charges 133 Ad hoc rent increase in first five years: Sch.17A para Surrender and regrant, overlap relief: Sch.17A paras 9, Assignments treated as new leases: Sch.17A para Reversionary leases Leases: other matters Tenant s obligations which are not consideration: Sch.17A para Premiums: Sch.5 paras 9, 9A 140 Agreements for lease: Sch.17A para.12a 141 Assignment of agreement for lease: Sch.17A para.12b 144 Sale and leaseback: s.57a 145 Deposits and loans as premiums: Sch.17A para.18a 148 Variations of leases 149 Reverse premiums: Sch.17A para x
9 Contents 11 Group and reconstruction reliefs 12 Partnerships Introduction 153 Group relief: Sch.7 paras per cent + of the ordinary share capital: Sch.7 para.1(2)(b), (3)(a), (4), (5) per cent + of real equity: Sch.7 para.1(3)(b), (c), (6), (6A), Corporation Tax Act 2010 ss , 175, Arrangements which rule group relief out: Sch.7 paras 2 2B 160 Must be bona fide commercial and not for tax avoidance: Sch.7 para.2(4a) 165 Group relief: procedure 168 Group relief clawback: Sch.7 paras Triggering the clawback: the main rule: Sch.7 para Exceptions from clawback: Sch.7 paras 4, 4ZA 173 Introductory 176 Reconstruction relief: Sch.7 para Acquisition relief: Sch.7 para Reconstruction and acquisition reliefs: procedure 181 Clawback of reconstruction and acquisition reliefs: Sch.7 para Introduction 185 Some general principles: Sch.15 paras An ordinary SDLT charge: Sch.15 paras Introduction 187 Transfer of property by partner or connected person to the partnership: Sch.15 paras Transfer of interest in property-investment partnership: Sch.15 para Transfer of interest in non-property-investment partnership pursuant to prior arrangements: Sch.15 para Stamp duty on transfers of partnership interests: Sch.15 paras Transfer of property by partnership to partner or connected person: Sch.15 paras xi
10 Stamp Duty Land Tax Transfer from a partnership to a partnership: Sch.15 para Interaction with group relief 206 Conversion of partnership into new LLP: s Incorporation of a partnership 209 Partnerships and s.75a: s.75c(8a) Trusts and other matters Introduction. Bare trusts: Sch.16 paras 1, Bare trusts: leases: Sch.16 para.3(2) (4) 214 Settlements 215 Pension funds 217 Settlements: accountability of trustees: Sch.16 paras 5, Personal representatives and estates 218 Divorce, etc.: Sch.3 paras 3 and second 3A Charities and the public sector The relief: what is a charity? Sch.8 para Clawback: Sch.8 para Mostly charitable use: Sch.8 para Joint purchase by charity and non-charity: Sch.8 paras 3A 3C 224 Complete exemption for certain bodies: ss.107, 67A 226 Exemption for public bodies in connection with reorganisations: s Compulsory purchase 227 Acquisitions by authorities under s.106 agreements: s Relief for PFI-type deals: Sch.4 para Transfers as a result of changes in parliamentary constituencies: s Special reliefs for Residential Property Introduction 231 Purchase of buyer s old dwelling by housebuilder: Sch.6A para Purchase of new-building-buyer s old dwelling by property trader: Sch.6A para xii
11 Contents Purchase of old dwelling by chain-breaking trader: Sch.6A para Purchase of dwelling by trader from personal representatives: Sch.6A para Relocation of employment: purchase of old dwelling by employer: Sch.6A para Relocation of employment: purchase of old dwelling by property trader: Sch.6A para Clawback of exemption in property trader cases: Sch.6A para Purchases by social landlords: s Limited exemption for tenancies granted by social landlords: Sch.3 para Right to buy transactions: Sch.9 para Shared ownership leases: Sch.9 paras Shared ownership trusts: Sch.9 paras Rent to mortgage acquisitions: Sch.9 para Alternative Property Finance 17 Anti-avoidance Introduction 243 What is a financial institution? 244 Who is a person? 245 Relationship with group relief 245 Anti-avoidance: arrangements to transfer control of the financial institution 245 Land sold to a financial institution and leased to the buyer: s.71a 246 Land sold to a financial institution and resold to the buyer: s Relying on the alternative finance provisions combined with another relief 248 Alternative Finance Investment Bonds 249 Introduction 251 Purposivism 251 TAARs 253 Introduction 254 The basic rule 255 xiii
12 Stamp Duty Land Tax 18 Returns Incidental transactions: s.75b 258 Other matters: s.75c 259 Stamp Office practice 261 Compliance 265 Retrospective legislation 265 Introduction 266 Introduction 267 What schemes have to be disclosed? Finance Act 2004 ss.306, Arrangements Regulations Who must disclose? Finance Act 2004 ss.307, 309, What must be disclosed and when? Finance Act 2004 ss.308, 309, 310, Information Regulations 2012 rr.4, Legal professional privilege: Finance Act 2004 s.314, Promoters Regulations 2004 r Scheme reference numbers: Finance Act 2004 ss ZA 274 Penalties: Taxes Management Act 1970 s.98c 275 The obligation to notify: ss.77, 77A 277 The SDLT 1, SDLT 2, SDLT 3 and SDLT 4 forms 279 No white space. Disclosure to the Stamp Office. Rulings 282 Sending in the return and payment. The filing date 283 Interaction with land registration: s Enquiries, discovery, penalties, etc. Introduction 287 Records: Sch.10 paras Correction of return by Stamp Office: Sch.10 para Amendment of return by purchaser: Sch.10 para Enquiries: Sch.10 paras Demands for tax during the Enquiry 291 Concluding the Enquiry: Sch.10 paras 23, Stamp Office s power to demand information and documents: Finance Act 2008 Sch Stamp Office s right to inspect: Finance Act 2008 Sch Stamp Office determinations: Sch.10 paras Discovery assessments: Sch.10 paras Time limits for discovery assessments: Sch.10 para xiv
13 Contents Refunds of overpaid SDLT: Sch.10 paras 34 34E 301 Interest: ss.87, Penalty for failing to file return on time: Sch.10 paras No penalty for failure to pay on time 305 Penalty for inaccurate returns and other communications: Finance Act 2007 Sch Appeals and Reviews The Tribunal s jurisdiction: Sch.10 para Making the appeal: Sch.10 para Sometimes there is a review: Sch.10 paras 36A 36I 313 Settlements with the Stamp Office: Sch.10 para Judicial review 315 Connected Persons 317 xv
Loose & Griffiths on Liquidators
Loose & Griffiths on Liquidators The Role of a Liquidator in a Winding Up Eighth Edition Peter Loose MA, Solicitor Michael Griffiths LLM Published by Jordan Publishing Limited 21 St Thomas Street Bristol
More informationCorporate Borrowing: Law and Practice
Corporate Borrowing: Law and Practice Fifth Edition Geoffrey Fuller MA (OXON), Solicitor Partner, Allen & Overy LLP Published by Jordan Publishing, owned by LexisNexis Jordan Publishing Regus Terrace Floor
More informationwith contributions from KPMG Stamp Taxes Group
Stamp Duty Land Tax MICHAEL THOMAS BA (Oxon), BCL (Oxon), BarristerofGray's Inn with contributions from KPMG Stamp Taxes Group Steven McGrady BA (Oxon), BCL (Oxon), sometime Lecturer in Law at Christ Church,
More informationLAND TRANSACTION TAX AND ANTI-AVOIDANCE OF DEVOLVED TAXES (WALES) BILL
LAND TRANSACTION TAX AND ANTI-AVOIDANCE OF DEVOLVED TAXES (WALES) BILL Explanatory Memorandum Incorporating the Regulatory Impact Assessment and Explanatory Notes September 2016 LAND TRANSACTION TAX AND
More informationLAND TRANSACTION TAX AND ANTI-AVOIDANCE OF DEVOLVED TAXES (WALES) BILL
LAND TRANSACTION TAX AND ANTI-AVOIDANCE OF DEVOLVED TAXES (WALES) BILL Explanatory Memorandum Incorporating the Regulatory Impact Assessment and Explanatory Notes March 2017 LAND TRANSACTION TAX AND ANTI-AVOIDANCE
More informationPrivate Client Services
Private Client Services Residential property Charges for non-natural persons March 2013 Residential property: charges for non-natural persons The 2012 Chancellor s Budget contained a number of announcements
More informationJCT/CIMAR 2016 Construction Industry Model Arbitration Rules 2016
JCT/CIMAR 2016 Construction Industry Model Arbitration Rules 2016 2016 Published June 2016 by Thomson Reuters (Professional) UK Limited, trading as Sweet & Maxwell, Friars House, 160 Blackfriars Road,
More informationLand and Buildings Transaction Tax (Scotland) Bill
Land and Buildings Transaction Tax (Scotland) Bill 2nd Marshalled List of Amendments for Stage 2 The Bill will be considered in the following order Sections 1 to 16 Schedule 1 Section 17 Schedule 2 Sections
More informationLand and Buildings Transaction Tax (Scotland) Bill
Land and Buildings Transaction Tax (Scotland) Bill 2nd Groupings of Amendments for Stage 2 This document provides procedural information which will assist in preparing for and following proceedings on
More informationProperty Tax update. Presented by Robert Maas of CBW Tax. March 2015
Property Tax update Presented by Robert Maas of CBW Tax March 2015 Property Taxes 2014/15 Bloomsbury Professional Introduction Rents Premiums Relief for interest payable Investment or dealing? Tax aspects
More informationCIOB TIME AND COST MANAGEMENT CONTRACT CONSULTANCY APPOINTMENT CONTRACT ADMINISTRATOR SCHEDULES EDITION
CIOB TIME AND COST MANAGEMENT CONTRACT CONSULTANCY APPOINTMENT 09 CONTRACT ADMINISTRATOR SCHEDULES 8 + 9 2015 EDITION CIOB TIME AND COST MANAGEMENT CONTRACT CONSULTANCY APPOINTMENT 09 CONTRACT ADMINISTRATOR
More informationQuestion 9 Tax reliefs
You are required by HMRC to complete a land transaction return in respect of the majority of land transactions. This is a summary of the full guidance notes which are available at www.hmrc.gov.uk/sdlt/return/intro.htm
More informationLBTT BRIEFING NOTE APRIL 2015
LBTT BRIEFING NOTE APRIL 2015 16 April 2015 CONFIDENCE THROUGH CLARITY MAKING IT CLEAR Briefing note April 2015 Since 1 April 2015 Land and Buildings Transaction Tax ("LBTT") has applied, in place of Stamp
More informationAUTUMN BUDGET November The Budget. chartered accountants & tax advisers
chartered accountants & tax advisers AUTUMN BUDGET 2017 November 2017 - The Budget The Chancellor Philip Hammond delivered his second Budget earlier this afternoon, in uncertain, pre-brexit times. Delayed
More informationICAEW REPRESENTATION 94/16 TAX REPRESENTATION
ICAEW REPRESENTATION 94/16 TAX REPRESENTATION Finance Bill (No 2) 2016 Clause 117: SDLT:higher rates for additional dwellings etc ICAEW welcomes the opportunity to comment on the Finance Bill published
More informationBuy-to-let Landlords
Buy-to-let Landlords This guide examines the tax issues affecting landlords of residential property. The positions of both individual and corporate landlords are considered, as the tax costs and deductions
More informationHMRC TO REQUIRE ACCELERATED TAX PAYMENTS FROM CERTAIN TAXPAYERS SUBJECT TO ENQUIRY
HMRC TO REQUIRE ACCELERATED TAX PAYMENTS FROM CERTAIN TAXPAYERS SUBJECT TO ENQUIRY Tolley Guidance 14 th February 2014 Tolley Guidance takes every care when preparing this material. However, no responsibility
More informationPension Schemes Act 1993
Page 1 of 11 Pension Schemes Act 1993 (c. 48) 1993 c. 48 Crown Copyright 1993 Acts of Parliament printed from this website are printed under the superintendence and authority of the Controller of HMSO
More informationPension Schemes (Northern Ireland) Act 1993 (c. 49)
Page 1 of 11 Pension Schemes (Northern Ireland) Act 1993 (c. 49) 1993 c. 49 Crown Copyright 1993 Acts of Parliament printed from this website are printed under the superintendence and authority of the
More informationThe UK Voluntary Sector Almanac 2002
The UK Voluntary Sector Almanac 2002 [page 2: blank] NCVO Publications The UK Voluntary Sector Almanac 2002 Pauline Jas, Karl Wilding Susan Wainwright, Andrew Passey and Les Hems NCVO Publications. London
More informationContents. Binder 1. Table of Legislation. Table of Cases. Part A Basics. Part B Supply issues. Part C Input tax
This is a listing of parts and chapters. A more detailed contents list appears at the beginning of each part. Gaps have been left in the alphabetical listing of parts, and in the numbering of chapters,
More informationSDLT: Points of Controversy 2017
Slide 1 SDLT: Points of Controversy 2017 Patrick Cannon 15 Old Square clerks@15oldsquare.co.uk 13 th September, 2017 Slide 2 Agenda 1. When can you get a closure notice? Frosh v HMRC [2017] 2. SDLT Follower
More informationProfessional Mortgage Conditions 2013 (v1)
Professional Mortgage Conditions 2013 (v1) (England & Wales) Includes Buy to Let Conditions Please keep these mortgage conditions and any other documents relating to your mortgage in a safe place in case
More informationLAND AND BUILDINGS TRANSACTION TAX (AMENDMENT) (SCOTLAND) BILL
LAND AND BUILDINGS TRANSACTION TAX (AMENDMENT) (SCOTLAND) BILL EXPLANATORY NOTES (AND OTHER ACCOMPANYING DOCUMENTS) CONTENTS As required under Rule 9.3 of the Parliament s Standing Orders, the following
More informationTHE DIRECT ROUTE TO CLEAR TRUST TAXATION
REUTERS/Paulo Whitaker THE DIRECT ROUTE TO CLEAR TRUST TAXATION TRUST TAXATION EMMA CHAMBERLAIN AND CHRIS WHITEHOUSE Trust Taxation provides an in-depth reference source in this area of law. It explains
More informationExplanatory Memorandum to. The Land Transaction Tax (Transitional Provisions) (Wales) Regulations 2018
Explanatory Memorandum to The Land Transaction Tax (Transitional Provisions) (Wales) Regulations 2018 This Explanatory Memorandum has been prepared by the Office of the First Minister and Cabinet Office
More informationGuidelines for buying and selling a business or company
Guidelines for buying and selling a business or company Introduction This section covers the main tax issues that arise when buying or selling a business owned by a sole trader, a partnership or a company.
More informationHandbook of Asset and Liability Management
Handbook of Asset and Liability Management From models to optimal return strategies Alexandre Adam Handbook of Asset and Liability Management For other titles in the Wiley Finance series please see www.wiley.com/finance
More informationPaper P6 (UK) Advanced Taxation (United Kingdom) ACCA INTERIM ASSESSMENT. Kaplan Publishing/Kaplan Financial
ACCA INTERIM ASSESSMENT Advanced Taxation (United Kingdom) 2012 Time allowed Reading and planning: 15 minutes Writing: 3 hours This paper is divided into two sections: Section A BOTH questions are compulsory
More informationAnnual Tax on Enveloped Dwellings - the basics
HM Revenue&Customs: Annual Residential Property Tax - the basics 1 Annual Tax on Enveloped Dwellings - the basics Previously called Annual Residential Property Tax, the Annual Tax on Enveloped Dwellings
More informationExpect more from your Tax Partner
Expect more from your Tax Partner IFA London branch meeting Tuesday 5 February 2018 IFA Tax Portal 2 Key property tax changes Caroline Fleet Gabelle SDLT First time buyers relief Conditions for relief
More informationHong Kong Taxation. Law and Practice Edition. Ayesha Macpherson Lau Garry Laird. The Chinese University Press
Hong Kong Taxation Law and Practice 2013-14 Edition Ayesha Macpherson Lau Garry Laird The Chinese University Press Acknowledgement Preface to 2013-14 Edition Abbreviations Latin Words and Phrases Table
More informationCapital Gains Tax Tackling Property Business Incorporations
Capital Gains Tax Tackling Property Business Incorporations Peter Rayney * FCA CTA (Fellow) TEP, Peter Rayney Tax Consulting Ltd Capital gains tax; Incorporation; Incorporation relief; Inheritance tax;
More informationFuture demand for long-term care in the UK
Future demand for long-term care in the UK Future demand for long-term care in the UK A summary of projections of long-term care finance for older people to 2051 Raphael Wittenberg, Adelina Comas-Herrera,
More informationThe Autumn Budget 2017
The Autumn Budget 2017 The Chancellor s latest Autumn budget does well in recognising that young people, families and businesses need help. With support proposed for first time buyers and better jobs contributing
More informationOctober Background
Response to the Welsh Assembly s Finance Committee inquiry into the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Bill from National Association of Estate Agents (NAEA) Background October
More informationGOODS & SERVICES TAX UPDATE 3
GOODS & SERVICES TAX UPDATE 3 CENTRAL GOODS & SERVICES TAX (CGST) Some sections of CGST Act, 2017 to come into effect from 01.07.2017 Central Government vide Notification No. 09/2017-Central Tax, dt. 28-06-2017
More informationIndirect Tax Conference 2015 Real Estate
Indirect Tax Conference 2015 Real Estate Mark Annear Richard Smith Ben Tennant 11 November 2015 Contents Annual update 3 TOGC s case law developments 11 Cross-border issues 19 2 Annual update Overview
More informationJune 2013 stamp duty developments
Ashurst Australia 10 July 2013 Stamp Duty Bulletin June 2013 stamp duty developments WHAT YOU NEED TO KNOW This Bulletin outlines Australian stamp duty developments in June 2013, which may impact your
More informationB4: Tax on developments
Supporting Older People Conference B4: Tax on developments Speakers: Kathryn Mallett Senior Tax Manager, KPMG John Rippon Senior Manager, Indirect Tax, KPMG Chair: Andy Howarth Finance Director, Worcester
More informationTHE REGIONAL DISTRIBUTION OF FOREIGN MANUFACTURING INVESTMENT IN THE UK
THE REGIONAL DISTRIBUTION OF FOREIGN MANUFACTURING INVESTMENT IN THE UK Also by Stephen Hill FUNDAMENTALS OF MANAGERIAL ECONOMICS (with Julian Gough) MANAGERIAL ECONOMICS TIME, WORK AND ORGANISATION (with
More informationINCOME TAX. Starting rate of 0% on savings income up to* 5,000 Personal Savings Allowance Basic rate 1,000 Higher rate 500
INCOME TAX RATES OF TAX Starting rate of 0% on savings income up to* 5,000 Personal Savings Allowance Basic rate 1,000 Higher rate 500 Basic rate of 20% 0 to 34,500 Higher rate of 40% 34,501 to 150,000
More informationRELATIONAL DIAGRAM OF MAIN CAPABILITIES. The Malaysian tax system (A) Real property gains tax (D)
Syllabus (P6) MYS MAIN CAPABILITIES After completing this examination paper students should be able to: A Explain the operation and scope of the tax system AIM (F6) MYS To develop knowledge and skills
More informationBARNES ROFFE LLP TAX STRATEGIES FOR PROPERTY INVESTORS
BARNES ROFFE LLP TAX STRATEGIES FOR PROPERTY INVESTORS Keith Mason / Paul Hughes 27 th September 2018 Seminar Coverage Residential Buying Renting Selling Keeping Changing Commercial Buying Renting Selling
More informationA GUIDE TO UNEMPLOYMENT REDUCTION MEASURES
A GUIDE TO UNEMPLOYMENT REDUCTION MEASURES Also by Edwin Whiting HOW TO GET YOUR EMPLOYMENT COSTS RIGHT A GUIDE TO BUSINESS PERFORMANCE MEASUREMENTS A Guide to Unemployment Reduction Measures Edwin Whiting
More informationLEGISLATION DAY: CORPORATE TAX
LEGISLATION DAY: CORPORATE TAX Tolley Library December 2015 Disclaimer Tolley Library takes every care when preparing this material. However, no responsibility can be accepted for any losses arising to
More informationA NEW, PRACTICAL APPROACH TO TAX ADVICE FOR MODERN ACCOUNTANTS
A NEW, PRACTICAL APPROACH TO TAX ADVICE FOR MODERN ACCOUNTANTS 50+ modules included Based around real-life individual and business situations Practical tools such as mindmaps, calculators, decision trees,
More informationMarketing in the Emerging Markets of Latin America
Marketing in the Emerging Markets of Latin America Also by Marin Marinov MARKETING IN THE EMERGING MARKETS OF CENTRAL AND EASTERN EUROPE: The Balkans INTERNATIONALIZATION IN CENTRAL AND EASTERN EUROPE
More informationThe Liquidity Theory of Asset Prices. Gordon Pepper with Michael J. Oliver
The Liquidity Theory of Asset Prices Gordon Pepper with Michael J. Oliver The following are quotes about the course The Monetary Theory of Asset Prices, Module 3, Practical History of Financial Markets,
More informationDavid Grey & Co Autumn Budget. 177 Temple Chambers Temple Avenue London EC4Y 0DB T: F: E:
David Grey & Co. CHARTERED ACCOUNTANTS 2017 Autumn Budget 177 Temple Chambers Temple Avenue London EC4Y 0DB T: 020 7353 3563 F: 020 7353 3564 E: post@davidgreyco.com BUDGET HIGHLIGHTS n First time buyers
More informationExplanatory Memorandum to. The Land Transaction Tax (Specified Amount of Relevant Rent) (Wales) Regulations 2018
Explanatory Memorandum to The Land Transaction Tax (Specified Amount of Relevant Rent) (Wales) Regulations 2018 This Explanatory Memorandum has been prepared by the Office of the First Minister and Cabinet
More informationLearning Accountancy: The Novel Way
Learning Accountancy: The Novel Way Learning Accountancy: The Novel Way By Zarir Suntook Learning Accountancy: The Novel Way, by Zarir Suntook This book first published 2010 Cambridge Scholars Publishing
More informationThe rates of corporation tax are set for a financial year (FY). The financial year 2012 is the year beginning 1 April 2012 and ending 31 March 2013.
Corporation tax Introduction Companies pay corporation tax on their income and capital gains (generally known as chargeable gains ). Corporation tax also applies to most clubs, societies and associations,
More informationThe Big Landlord Tax Increase
Taxcafe.co.uk Tax Guides The Big Landlord Tax Increase How to Beat the Cut in Mortgage Tax Relief By Carl Bayley BSc FCA and Nick Braun PhD Important Legal Notices: Taxcafe Tax Guide - The Big Landlord
More informationPensions Act 1995 (c. 26)
Page 1 of 9 Pensions Act 1995 (c. 26) 1995 c.26 Crown Copyright 1995 Acts of Parliament printed from this website are printed under the superintendence and authority of the Controller of HMSO being the
More informationPlenary 3 CGT Update and Property Structuring
Plenary 3 CGT Update and Property Structuring John Barnett CTA (Fellow) TEP Partner, Burges Salmon Topics CGT Update Residential Property Structures ATED, SDLT, CGT and IHT Conventional UK planning for
More informationOctober. Doing property business in the UK
October 2017 Doing property business in the UK 0 F o r w a r d This booklet has been prepared for the use of clients, partners and staff of Menzies LLP. It is designed to give some general information
More informationINCOME TAX. Starting rate of 0% on savings income up to* 5,000 Personal Savings Allowance Basic rate 1,000 Higher rate 500
INCOME TAX RATES OF TAX Starting rate of 0% on savings income up to* 5,000 Personal Savings Allowance Basic rate 1,000 Higher rate 500 Basic rate of 20% 0 to 33,500 Higher rate of 40% 33,501 to 150,000
More informationIn the first of a two-part series, Emma Chamberlain considers the capital gains tax issues arising on divorce
Capital split 1 June 2015 In the first of a two-part series, Emma Chamberlain considers the capital gains tax issues arising on divorce What is the issue? Are payments by foreign domiciliaries to civil
More informationHow commercial property is taxed
How commercial property is taxed Pay attention to the tax rules before you dip your toe into the commercial property pool Commercial property forms a vital part of the UK economy, providing places for
More informationDiscounted Cash Flow. A Theory of the Valuation of Firms. Lutz Kruschwitz and Andreas Löffler
Discounted Cash Flow A Theory of the Valuation of Firms Lutz Kruschwitz and Andreas Löffler Discounted Cash Flow For other titles in the Wiley Finance Series please see www.wiley.com/finance Discounted
More informationInvestigating Social Issues
Investigating Social Issues ECONOMICS TODAY Edited by Andrew Leake The Economics Today series surveys contemporary headline topics in applied economics. Each book in the series is written by an expert
More informationTaxcafe Tax Guides Pension Magic How to Make the Taxman Pay for Your Retirement By Nick Braun PhD
Taxcafe Tax Guides Pension Magic How to Make the Taxman Pay for Your Retirement By Nick Braun PhD Important Legal Notices: Published by: Taxcafe UK Limited 67 Milton Road Kirkcaldy KY1 1TL Tel: (0044)
More informationa building which is used, or suitable for use as a dwelling a building which is in the process of being constructed or adapted for use as a dwelling.
Briefing Note High Value Residential Properties the new taxes In its drive to tackle tax avoidance the Government is introducing three new measures designed to discourage the use of companies and other
More informationFundamentals of Futures and Options Markets John C. Hull Eighth Edition
Fundamentals of Futures and Options Markets John C. Hull Eighth Edition Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout the world Visit us on
More informationAdvanced Accounting Floyd A. Beams Joseph H. Anthony Bruce Bettinghaus Kenneth Smith Eleventh edition
Advanced Accounting Floyd A. Beams Joseph H. Anthony Bruce Bettinghaus Kenneth Smith Eleventh edition Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout
More informationLIST OF ABBREVIATIONS...III LIST OF LEGAL REFERENCES... IV PART I. IMPLEMENTATION OF THE DIRECTIVE... V 1. INTRODUCTION... V
UNITED KINGDOM 535 Page ii OUTLINE LIST OF ABBREVIATIONS...III LIST OF LEGAL REFERENCES... IV PART I. IMPLEMENTATION OF THE DIRECTIVE... V 1. INTRODUCTION... V 1.1. GENERAL INFORMATION ON THE IMPLEMENTATION
More informationCarey Olsen Starting Point Employment Law Guide starting a business in Jersey
Carey Olsen Starting Point Employment Law Guide starting a business in Jersey Service area Employment, Pensions and Incentives Location Jersey Date July 2017 Carey Olsen Starting Point Guides are intended
More informationA Foreign Exchange Primer
A Foreign Exchange Primer For other titles in the Wiley Trading series please see www.wiley.com/finance A FOREIGN EXCHANGE PRIMER Second Edition Shani Shamah A John Wiley and Sons, Ltd., Publication Copyright
More informationRent-A-Room Relief. ITCTCGT Part
Rent-A-Room Relief ITCTCGT Part 07-01-32 This document should be read in conjunction with section 216A Taxes Consolidation Act 1997 Document last updated August 2017 Table of Contents 1.Introduction...3
More informationAutumn Budget Summary of the Facts
Summary of the Facts 1 Contents Commentary Commentary 3 Income Taxes 4 Business Tax 5 Exise Duties 5 VAT 6 Stamp Duty Land Tax 6 Other Annoucements 6 Anti-Avoidance 7 Chancellor Philip Hammond presented
More informationBIBBY FINANCIAL SERVICES STANDARD CONDITIONS FOR THE PURCHASE OF DEBTS (EDITION A/2004 SCOTLAND) INCORPORATED INTO THE AGREEMENT MADE WITH
BIBBY FINANCIAL SERVICES STANDARD CONDITIONS FOR THE PURCHASE OF DEBTS (EDITION A/2004 SCOTLAND) INCORPORATED INTO THE AGREEMENT MADE WITH 1 CONTENTS 1. Introduction... 3 2. Duration of this Agreement...
More informationThe Revenue and Financial Services Act
1 The Revenue and Financial Services Act being Chapter R-22.01 (formerly The Department of Revenue and Financial Services Act, D-22.02) of the Statutes of Saskatchewan, 1983 (effective May 18, 1983) as
More informationThe new era non-residents and UK residential property
The new era non-residents and UK residential property Emma Chamberlain Pump Court Tax Chambers 16 Bedford Row London WC1R 4EF echamberlain@pumptax.com Tel 0207 414 8080 October 2015 STEP Overview A mess
More informationStandard Mortgage Terms and Conditions. May 2018 Edition
Standard Mortgage Terms and Conditions May 2018 Edition Terms and Conditions Mortgages Contents Introduction 03 Definitions 04 Interpretation and application 05 Acting in joint names 05 Withdrawal of offer
More informationINTRODUCTION TO ACCOUNTANCY AND FINANCE
INTRODUCTION TO ACCOUNTANCY AND FINANCE TITLES IN THIS SERIES Published R. J. Briston Introduction to Accountancy and Finance H. K. Jaeger The Structure of Consolidated Accounting Ernest Laidler Variance
More informationMacroeconomics Principles, Applications, and Tools O'Sullivan Sheffrin Perez Eighth Edition
Macroeconomics Principles, Applications, and Tools O'Sullivan Sheffrin Perez Eighth Edition Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout the
More informationIncome Tax. Income Tax allowances Personal Allowance (1) 7,475 8,105 N/A
Income Tax Income Tax allowances table Income Tax allowances 2011-12 2012-13 2013-14 Personal Allowance (1) 7,475 8,105 N/A Personal Allowance for people born after 5 April 1948 (1) N/A N/A 9,440 Income
More informationHousing Benefit and Council Tax Benefit Circular. For information
Housing Benefit and Council Tax Benefit Circular Department for Work and Pensions The Adelphi, 1-11 John Adam Street, London WC2N 6HT HB/CTB A8/2007 ADJUDICATION AND OPERATIONS CIRCULAR WHO SHOULD READ
More informationACCOUNTANCY AND AUDITING, PAPER-I (PART-I) 30 MINUTES MAXIMUM MARKS:20 (PART-II) 2 HOURS & 30 MINUTES MAXIMUM MARKS:80
FEDERAL PUBLIC SERVICE COMMISSION COMPETITIVE EXAMINATION FOR RECRUITMENT TO POSTS IN BPS-17 UNDER THE FEDERAL GOVERNMENT, 2010 TIME ALLOWED: NOTE: (i) ACCOUNTANCY AND AUDITING, PAPER-I (PART-I) 30 MINUTES
More informationMIDDLE-CLASS BLACKS IN BRITAIN
MIDDLE-CLASS BLACKS IN BRITAIN Middle -Class Blacks in Britain A Racial Fraction of a Class Group or a Class Fraction of a Racial Group? Sharon J. Daye M St. Martin's Press Sharon J. Daye 1994 Softcover
More informationCombatting Tax Avoidance. John Barnett CTA (Fellow) TEP Partner, Burges Salmon LLP
Combatting Tax Avoidance John Barnett CTA (Fellow) TEP Partner, Burges Salmon LLP The War on Tax Avoidance Disclosure of Tax Avoidance Schemes (DOTAS) update Accelerated Payment Notices Information Powers
More informationCoAssets Limited Securities Trading Policy
CoAssets Limited Securities Trading Policy 1 INTRODUCTION This securities trading policy (Trading Policy) is a policy of CoAssets Limited and all of its subsidiaries (Company). This Trading Policy applies
More informationBritish Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library
Editorial Director: Sally Yagan Editor in Chief: Donna Battista Director Editorial Services: Ashley Santora Editorial Project Manager: Karen Kirincich Editorial Assistant: Jane Avery Editorial Assistant:
More informationVAT Considerations For District Heating Scottish Futures Trust
www.pwc.co.uk VAT Considerations For District Heating Scottish Futures Trust October 2014 Important notice This report is provided solely in connection with our advice to Scottish Futures Trust on VAT
More informationCITY OF EDMONTON BYLAW CITY ADMINISTRATION BYLAW (CONSOLIDATED ON NOVEMBER 27, 2018)
CITY OF EDMONTON BYLAW 16620 CITY ADMINISTRATION BYLAW (CONSOLIDATED ON NOVEMBER 27, 2018) Edmonton City Council enacts: THE CITY OF EDMONTON BYLAW 16620 CITY ADMINISTRATION BYLAW PART I - PURPOSE, DEFINITIONS,
More informationTax DOs and DON Ts for Property Companies. Lee Sharpe
Tax DOs and DON Ts for Property Companies By Lee Sharpe Publisher Details This guide is published by Tax Portal Ltd. 3 Sanderson Close, Great Sankey, Warrington, Cheshire, WA5 3LN. Tax DOs and DON Ts
More informationBudgeting Basics and Beyond
Budgeting Basics and Beyond Founded in 1807, John Wiley & Sons is the oldest independent publishing company in the United States. With offices in North America, Europe, Asia, and Australia, Wiley is globally
More informationINTERNET SALES CONTRACT REGULATION
Province of Alberta CONSUMER PROTECTION ACT INTERNET SALES CONTRACT REGULATION Alberta Regulation 81/2001 With amendments up to and including Alberta Regulation 140/2016 Office Consolidation Published
More informationBusiness Valuation Courses
The specialist in highly technical, market-driven banking and corporate finance tax training Tax Courses Business Valuation Courses All courses can be presented In-House or via Live Webinar web: redliffetraining.co.uk
More informationFundamentals of Actuarial Mathematics
Fundamentals of Actuarial Mathematics Third Edition S. David Promislow Fundamentals of Actuarial Mathematics Fundamentals of Actuarial Mathematics Third Edition S. David Promislow York University, Toronto,
More informationARTICLE 1 - GENERAL PROVISIONS
CHAPTER 29 - WYOMING LIMITED LIABILITY COMPANY ACT ARTICLE 1 - GENERAL PROVISIONS 17-29-101. Short title. This chapter may be cited as the "Wyoming Limited Liability Company Act". 17-29-102. Definitions.
More informationPearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout the world
Pearson Education Limited Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout the world Visit us on the World Wide Web at: www.pearsoned.co.uk Pearson Education Limited 2014
More informationUK PROPERTY TAXES COMMERCIAL AND RESIDENTIAL UPDATE JUNE 2018
UK PROPERTY TAXES COMMERCIAL AND RESIDENTIAL UPDATE JUNE 2018 TIMELINE OF TAX CHANGES The last few years have seen a transformation in the landscape for the taxation of property ownership in the UK with
More informationJohn Wigley and Carol Lipman: The Enterprise Economy
Taxation ECONOMICS TODAY Edited by Andrew Leake The Ecanomics Today series surveys contemporary headline topics in applied economics. Each book in the series is written by an expert in the field in a style
More informationGeneral Anti-Tax Avoidance Principle Bill
General Anti-Tax Avoidance Principle Bill CONTENTS 1 General anti tax-avoidance principle 2 Meaning of tax arrangements 3 Meaning of tax avoidance 4 Meaning of tax advantage Counteracting the tax advantages
More informationRELEVANT LIFE POLICY TRUST AND NOMINATION FORMS
RELEVANT LIFE POLICY TRUST AND NOMINATION FORMS Important notes The forms are designed for use only with Royal London Relevant Life plans. Both forms can be used in England, Wales, Scotland or Northern
More informationLoan Terms indd 1 4/10/18 1:04 PM Generated at: Tue Apr 10 13:10:
Loan Terms 2018 Contents Page Loan Terms 2 1. The Offer 3 2. Property Valuation 3 3. Existing Mortgages 3 4. Other Borrowing 3 5. Changes in Circumstances 3 6. Interest 3 7. Monthly Payments 4 8. Agreement
More informationThe trust form is designed for use only with plans issued by Royal London (and the divisions known as Bright Grey and Scottish Provident).
BUSINESS TRUST Important notes Please read these notes prior to completion. The following trust form should not be used for pension plans. The business trust is designed to allow payment of the plan proceeds
More informationTHE COMMON LAW LIBRARY NUMBER 12 JACKSON & POWELL ON PROFESSIONAL NEGLIGENCE FOURTH EDITION
THE COMMON LAW LIBRARY NUMBER 12 JACKSON & POWELL ON PROFESSIONAL NEGLIGENCE FOURTH EDITION LONDON SWEET & MAXWELL 1997 Preface Table of Principal Works Referred To Table of Cases Table of Statutes Table
More information