Dividend tax changes – winners and losers
The unexpected change to dividend tax announced in the Summer Budget will create winners and losers from April 2016.
05 August, 2015
News
Rental tax changes
Future restrictions to tax relief on interest in residential rental businesses
01 August, 2015
Summer 2015 Budget for farmers and landowners
George Osborne claims that this is a Budget for working people that puts security first, whilst those with the broadest shoulders are bearing the greatest burden.
10 July, 2015
Spring Budget 2015 – New rules for multiple trusts
As announced in the December 2014 Autumn Statement, legislation will provide new rules about adding property to trusts on the same day, to target Inheritance Tax avoidance through the use of multiple trusts (based on the principles established in the Rysaffe case and commonly known as pilot trusts), which could mean that each pilot trust had its own nil rate band without reference to the other trusts.
10 March, 2015
Autumn Statement 2014 ‘On course for prosperity’
With politicians now firmly in the run up to the May 2015 election, George Osborne’s last Autumn Statement before that election had a welcome surprise for home owners, as well as further measures for savers. However there were several more technical amendments which may also affect landowners.
03 December, 2014
Inheritance Tax: Trust simplification
In the Budget 2012 the Chancellor announced measures that the Government believed would ‘simplify the Inheritance Tax regime for relevant property trusts and reduce compliance costs for trustees and practitioners’.
10 March, 2014
Budget 2014 – main issues for farmers and landed clients
Click here to download our summary of the Chancellor’s 2014 Budget. The following are the main issues arising from the Chancellor’s 2014 Budget for farmers and landed clients:
01 March, 2014
Restriction to private residence relief on sale of former residence
Where a property has been an owner’s only or main residence throughout the whole period of ownership, private residence relief will be available on the capital gain arising on sale. However, where a property has not been occupied as the owner’s only or main residence throughout the period of ownership, private residence relief may only be available for a proportion of the gain.
10 December, 2013
Further HMRC consultation on settlements
Increased tax charge on multiple settlements
HMRC has issued a consultation on simplifying the Inheritance Tax charges on trusts (the ten yearly periodic charge and exit charge) and has identified the following areas for simplification:
10 June, 2013
If the cap fits? – further restrictions to loss reliefs
As analysed in previous articles, a limit will apply to restrict the Income Tax relief available to individuals from 6 April 2013 to the greater of £50,000 or 25% of total income. This legislation will affect some farmers and landowners, especially with the fluctuations in farming results expected in the 2012 and 2013 harvests.
10 April, 2013