Five thousand homes, each worth more than £2m, are held through corporate structures that allow the owners to avoid UK taxes, according to unpublished government estimates obtained by Exaro.
Helen Lethaby provides your regular update, which this month includes coverage of developments concerning the FII group litigation, unauthorised unit trusts and the decision in Santander.
The government is consulting on a new annual charge on residential properties valued over £2m owned by certain ‘non-natural’ persons, and a proposed extension of capital gains tax to the disposal by non-resident, non-natural persons of residential property for more than £2m.
HMRC has updated its guidance on the stamp duty stock transfer form to provide advice on the completion of a new certificate, added to the reverse of the form, which is ‘to be completed when a share transfer is “otherwise” exempt from stamp duty or no chargeable consideration
Revenue & Customs Brief 14/12 sets out the extent to which HMRC will continue to regard the holder of a depository receipt as having beneficial ownership of the underlying shares, following the First-tier Tribunal decision in the Stamp Duty Reserve Tax case of HSBC Holdings PLC a
The Scotland Bill received Royal Assent on 1 May and is now the Scotland Act 2012.
HMRC has announced that it will not seek permission to appeal against the decision of the First-tier Tribunal in HSBC Holdings PLC and The Bank of New York Mellon Corporation v HMRC [2012] UK FTT 163.
Marc Selby explains why the market for SDLT schemes is likely to be severely curtailed following Royal Assent of the Finance Bill, and what the future holds for the specialist SDLT planning adviser.
In this month's briefing, Helen Lethaby reviews recent developments including proposed changes to the rules on the deduction of income tax at source and the tax treatment of manufactured payments.
Wealthy homebuyers have already found ‘loopholes’ to avoid paying the new top rate of stamp duty land tax, the Financial Times reported at the weekend.