From distinguishing between income and capital to considering the property owner’s status, the calculation of property tax liability can be time consuming and full of pitfalls.
The Tax on Property handbook guides you through the maze of tax laws and helps you avoid the hazards. It deals with all aspects of the taxation of property and includes information on all the main taxes – Income Tax, Capital Gains Tax, Inheritance Tax, VAT, Stamp Duty Land Tax, Landfill Tax, Aggregates Levy and Business Rates – and how they affect property transactions. It also covers the Construction Industry Scheme, Capital Allowances and the financing of property transactions.
Contents
- Occupation of Business Premises
- Property Letting
- Property Dealing and Development
- 'Artificial’ transactions in land
- Capital Allowances
- Relief for Interest Payable
- Construction Industry Scheme
- Capital Gains
- Real Estate Investment Trusts
- Inheritance Tax
- Stamp Duty Land Tax
- VAT
- Landfill Tax
- Aggregates Levy
- Local Taxes
This 2009-2010 edition has been updated for the numerous changes made over the past 12 months to both the law and practice as it affects property transactions.
In particular, it incorporates the Finance Act 2009 changes on Land remediation relief, Transfers of income streams, Agricultural property relief and Woodlands relief, Capital allowances, REITs and SDLT. It also includes commentary on the Budget proposals on changes to furnished holiday lettings as well as the proposal to further restrict the scope of the CIS. HMRC have published guidance on a range of issues and these have been incorporated into the commentary. Of particular note is the material on goodwill and trade related premises where appropriate reference is made to HMRC Consultations, the new Tribunal and Review systemand the major case law developments.
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