The consultation paper on the SDLT additional rate proposal has now been published and is open for responses until 1 February 2016. Details of when a person can downsize and retain the additional residential nil rate band have been clarified. Trustees will need to be ready to comply with the common reporting standard. Landlords will need to start recording the actual cost of replacement items of furniture, appliances and kitchenware, rather than relying on the wear and tear allowance which is being abolished.
