Category: Uncategorized

ROLLOVER RELIEF ON FURNISHED HOLIDAY LETS

My client is selling a commercial building which she owns and which is used by her personal trading company. She is looking to use the proceeds from the sale of the building to purchase a property which she will personally operate as a Furnished Holiday Let (FHL). Would she be able to claim Rollover Relief […]

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TRANSACTIONS IN LAND

A higher rate farming client has been approached about development of an unused parcel of land. The developer has proposed a couple of options. Can you briefly explain the potential tax consequences of each one?   Option 1 – Purchase the land outright from the farmer. Option 2 – Developer acquires the land for a […]

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PREPARING FOR RAMADAN IN 2022

A client has approached me to ask what they need to do for their employees who are observing Ramadan. After two years at home, they are now back to the office. During the time they were working from home, a number of new starters joined the business, some of whom follow the Islamic faith. How […]

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PPR FOR A TRUST

My client is the life tenant of an interest in possession trust that was created on his wife’s death. Half of the client’s main residence is in this interest in possession trust and the other half he owns personally. If this property is sold will there be capital gains tax due?   To read the […]

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WHAT TO LOOK OUT FOR IN 2022

My client has been talking to me about getting ready for the year ahead. They are a retail store, and they want to make sure they have a plan in place for any changes to come (that we know about, at least!). What can we expect in 2022, and how can I help my client […]

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UK BUSINESS CONFIDENCE MONITOR: NATIONAL

The latest Business Confidence Monitor (BCM) shows that business confidence is returning towards pre-pandemic levels. It remains high as is supported by strong domestic sales. As the economy expands, businesses are facing significant challenges with recruitment and skills shortage, transport problems and rising input costs, which could hinder further growth. The results are based on […]

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SDLT AND MULTIPLE DWELLINGS RELIEF

My client is considering replacing his main residence. The prospective property is being marketed as the freehold of a main house with an annexe. The annexe is connected to the main house by a door to the kitchen which is locked but has its own separate external entry too. The annexe is self-contained, and the […]

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EXCHANGE OF JOINT PROPERTY INTERESTS

My client (Peter) and his brother (Fred) jointly own two rental properties but now wish to rearrange their holdings so that they each own a property.  Property A has a market value of £250,000 and has a base cost of £90,000 and Property B has a market value of £230,000 and has a base cost […]

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