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Blog

21 Aug 2020

Changes to the reporting of Capital Gains on UK property sales

From the 6 April 2020, the way in which taxpayers are to disclose of gains on the disposal of UK residential properties has changed. Upon completion of the sale of a residential property, there will be a 30-day window to report the disposal and pay the associated capital gains tax due to HM Revenue & Customs, through the submission of a “payment on account return”.

18 Sep 2019

Proposed Inheritance Tax (IHT) changes – Impact for farmers

The Office of Tax Simplification (OTS) finally released their second report into the simplification of IHT in July 2019. This report includes a number of recommendations for change.

29 Jan 2019

Inheritance Tax under HMRC spotlight

Many farmers are concerned over the political landscape surrounding Inheritance Tax (IHT) reliefs and the possibility that the current favourable situation may change.

28 Sep 2018

Inheritance Tax relief on Furnished Holiday Lets - a glimmer of hope?

Properties let as furnished holiday accommodation can receive privileged tax treatment when compared to residential lettings. If certain qualifying conditions are met the activity can be treated as a trade for Income Tax and Capital Gains Tax (CGT) purposes.

13 Sep 2018

Farming Succession

One of the most challenging aspects of running a successful farming business is ensuring continuity over the generations. As part of a succession plan it is important to look at the ownership of the farm.

20 Dec 2017

When is a van not a van?

For an ordinary person standing at a busy roadside it would appear that most vehicles can be quite readily distinguished as being cars or vans. The clear cut cases are the obvious passenger vehicles, or a box style of van intended to carry goods. In the world of tax there is a however a huge distinction in treatment, with classification between the two becoming increasingly troublesome and a potentially large tax cost for getting it wrong.

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