Goodwill and Corporation Tax
Goodwill is rarely mentioned in legislation. Most people would settle on a simple definition which would be based on the ‘extra’ value of a business over and above its tangible assets. In the vast majority of cases when a business is sold a significant proportion of the sale price will be for the intangible assets or […]
Q&A: principal private residence relief claims
In our regular Q&A series, Croner Taxwise tax adviser Marsha Haywood examines the impact of principal private residence relief (PPR) on a sale of a property held in a trust The trustees of a discretionary trust have transferred a residential rental property to a beneficiary and held over the arising gain under section 260 TCGA […]
Tenant Fees Act “does not ban charging for some viewings”
Guidance from Trading Standards suggests that it is possible, in some cases, to charge tenants to view a property to let – and this would be within the rules of the Tenant Fees Act. New PropTech platform ViewRabbit provoked controversy last month when it proposed charging would-be tenants and buyers £30 per viewing – or […]
House price growth slows as housing market cools
The Halifax says house prices rose again in July after dipping last month, making the average price £261,221 and leaving prices 7.6% higher than at the same time last year. Last month, average prices were 8.7% up on a year ago. The lender said it expected prices to settle further after the recent spate of […]
Billionaires lose £4m stamp duty land tax case
The billionaire brothers, Christian and Nicholas Candy have lost their stamp duty land tax (SDLT) battle against HMRC at the Upper Tribunal and have been ordered to pay almost £4m tax on their £68m property purchase The Upper Tribunal ruled in favour of HMRC, that property developers Christian Candy, 46, and Nicholas Candy, 48, had […]
Inheritance tax take hits £5.4bn
The amount of inheritance tax raised during tax year 2020-21 has increased by 4% to £5.4bn, up £190m year on year, although the amount of money offset for charitable donations has declined over the same period This reverses the fall seen last year, and means receipts have been broadly flat across the four years since […]
Stamp duty on property sales hits £2.8bn
The end of the stamp duty land tax (SDLT) holiday on 30 June for the £250,000 to £500,000 price banding caused a substantial rise in the number of transactions completed in June as purchasers tried to complete to avoid paying additional stamp duty The total SDLT raised over the last quarter hit £2.8bn with transactions […]
Commercial rent arrears and premises recovery
The extension of the rent arrears moratorium may have been welcomed by some businesses but for landlords the options are limited. Mark Gardner of Excello Law assesses alternatives to court action with a plan for negotiated settlements Commercial landlords have been put under serious strain by the government’s extension of the moratorium on commercial rent […]
What would CGT reform mean for UK entrepreneurs?
Despite talk of reforming capital gains tax, the March Budget swerved the issue, but the autumn statement may give the Chancellor the opportunity to tighten the rules, argue Eddie Bines and Greg Pollock from restructuring specialists Kroll Rarely does a day go past without tax reform rearing its head in a daily financial news bulletin. […]
Pub secures reduced tied rent and discounts
The Pubs Code Adjudicator is responsible for enforcing the statutory Pubs Code. The Pubs Code regulates the relationship between all pub companies owning 500 or more tied pubs in England and Wales and their tied tenants. Tied tenants are those that are obliged to purchase beer and/or other products or services from their landlord. An […]
