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each worth more than £2m, are held through corporate structures that allow the owners to avoid UK taxes, according to unpublished government estimates obtained by Exaro.
The government has received EC state aid approval for changes announced at Budget 2012 to the Enterprise Investment Scheme and the Venture Capital Trust scheme, increasing:
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.
The proposed cap on ‘unlimited tax reliefs’ will not apply to donations to charity, George Osborne has announced.
More than half of taxpayers do not know how much income tax and NICs they pay in a year, HM Treasury said as it announced the launch of a new tax calculator on Monday.
David Barton identifies this month's key tax issues for advisers.
Andrew Penman answers a reader's query on tax on a retiring partner.
HMRC is consulting on a proposed statutory power allowing the department to withdraw a notice to file a self assessment tax return and to cancel any penalty for failure to make such a return.
HMRC has invited comments on proposed changes to the tax rules for unauthorised unit trusts and their investors. The stated aim is to simplify the rules and reduce administrative burdens while removing avoidance opportunities.