Mixed-use properties and SDLT For stamp duty land tax (SDLT) purposes, a property may be a residential property, a non-residential property or a mixed-use property. The classification is important as it determines the rates at which SDLT is charged. Recently, there...
CGT advantages of furnished holiday lettings Furnished holiday lettings (FHLs) have a number of tax advantages over residential lets. These advantages include the opportunity to benefit from a number of capital gains tax reliefs. The capital gains tax legislation...
Selling the garden for development If you own a large plot of land that you no longer require but you don’t want to move home, you may consider selling some of it for development. However, from a tax perspective, there are considerations that you need to be aware of...
Capital gains tax on separation and divorce Spouses and civil partners enjoy certain tax breaks, including the ability to transfer assets between them at a value that gives rise to neither a gain nor a loss. Prior to 6 April 2023, a couple are only able to benefit...
The taxation of cryptocurrency Cryptocurrency is a complicated concept and the following text gives HMRC’s view on the basic rules. Modern cryptocurrencies were first described in 1998 but the concept fully emerged in 2008 with the release of a white paper...
MTD and landlords – the new timetable Under the original plans, landlords with rental income (or combined rental and business income) of more than £10,000 would have needed to comply with Making Tax Digital for Income Tax (MTD for ITSA) from 6 April 2024. However, the...
