The Scottish government has announced rates for the new land and buildings transaction tax (LBTT), which is to replace stamp duty land tax (SDLT), in its draft Scottish Budget for 2015/16. The nil rate applies up to £135,000, rising to 12% on transactions over £1,000,000.
Andrew Goldstone and Victoria Howarth (Mishcon de Reya) review recent developments, including consultations on VCTs, social investment tax relief and income tax allowance restrictions for non-residents; changes to the tax treatment of commercial loans taken out by non-doms; ATED; and guidance on dual employment contracts
HMRC is consulting on the enactment of ESC D33. Paul Howard (Gabelle) reports.
IBAs and commercial buildings
Peter Stevens summarises the government’s proposals for charging tax on capital gains made by non-residents from disposals of UK residential property
Nigel Popplewell reviews the Budget changes, including the reduced thresholds for the ATED and 15% SDLT rate.
Your guide to the key measures from the Budget, provided by Lexis®PSL Tax and Lexis®PSL Private Client.
In the wake of updated UK CGT rules for non-residents, Nick Farmer and Stephen Hemmings assess the tax treatment for non-residents disposing of residential property in eight different jurisdictions
Availability of business property relief
US investors, even those exempt from tax, will have specific structural preferences when investing in UK commercial real estate. Ben Eaton and Karen Turk examine the related tax issues and explain why an understanding of the UK tax regime is only part of the picture