Following approaches by a number of landlords worried about the implications of HMRC’s Spotlight 63, we understand that HMRC have now written to buy-to-let property owners regarding a tax avoidance scheme promoted by Less Tax for Landlords and others requiring them to...
Multiple Dwellings Relief (MDR) is one of a set of reliefs for Stamp Duty Land Tax (SDLT) on any purchase of property in England and Northern Ireland. There are similar rules for MDR in Scotland and Wales. Under s 58D, sch 6B FA 2003 you can claim MDR relief when you...
Getting the property company up and running If you come to the conclusion that a property company is the right way to go, the first step is to form a company. What happens next largely depends on whether you are looking to build up a portfolio from scratch or to put...
Moving to Dubai from the UK Recent years have seen many UK residents attracted to the idea of relocating to Dubai to take advantage of a number of benefits (not just the weather). The good news is that there is no tax at all in Dubai but you may have tax obligations...
Moving to a new country is an exciting time and life-changing experience, but careful consideration is required of the financial obligations the Australian Tax Office (ATO) poses on new residents. Australia has its own unique tax system, varying from the UK tax...
Introduction Sylvia purchased a property ten years ago. She lived in it for two years before being seconded by her employer to work in another part of the UK. Sylvia lived there for five years before being seconded to work overseas for one year. She remained living...
A heavily promoted tax scheme using an LLP with a corporate shareholder has literally come under the spotlight by HMRC. The scheme was promoted to landlords to avoid paying tax on their property income and reduce Capital Gains Tax and Inheritance Tax. HMRC has now...
The Register of Overseas Entities came into force in the UK on 1 August 2022 through the new Economic Crime (Transparency and Enforcement) Act 2022. This legislation applies to any overseas company that purchased land or property in the UK on or after 1st January 1999...
The Register of Overseas Entities is a measure aimed at enhancing the transparency of property ownership in many countries. Its primary goal is to prevent money laundering, tax evasion, and illicit financial flows through property assets owned by overseas entities....
We are thrilled to share some fantastic news with our readers and clients. UKLandlordTax has recently been recognised for its expertise in the field of tax advice for landlords and we have been featured on the highly popular financial website, This Is Money twice in...