Targeted anti-avoidance rules to apply from 21 December 2012
There are better alternatives than a mansion tax for politicians to find revenues in the short to medium term, Alex Henderson writes.
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.
Six new HMRC taskforces – specialist teams that undertake ‘intensive bursts of activity’ in high risk trade sectors and locations – are expected to recover tax of more than £23m, the department announced.
The Scotland Bill received Royal Assent on 1 May and is now the Scotland Act 2012.
The Business Premises Renovation Allowances (Amendment) Regulations, SI 2012/868, extend BPRA to 31 March 2017 for corporation tax purposes and 5 April 2017 for income tax purposes, as announced at Budget 2011.
Putting homes into companies to avoid stamp duty is ‘completely
New legislation to block a ‘contrived and aggressive’ income tax avoidance scheme involving property business loss relief will protect the Exchequer from significant losses, HM Treasury said.
Patrick Cannon provides a review of the top five developments in 2011 affecting stamp taxes
Sara MacCallum reviews the top five taxation developments in 2011 affecting commercial property