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Valuing Land Print E-mail
Tax Articles - Property Taxes
Written by Tax Insider   
Monday, 03 June 2013 15:12
A CGT charge may arise on the disposal of land. In order to calculate the capital gain or loss arising, a valuation is required where:
 
the land was owned at 31 March 1982 (in order to determine the ‘base cost’ of the property);
the disposal was a bargain not at ‘arm’s length’;
the disposal was to a connected person; 
there has already been a part disposal of some of the land and the ‘alternative basis’ of calculation has not been used.
 
Calculation
‘Alternative’ basis – the land disposed is treated as a separate asset – HMRC will accept any ‘reasonable and fair’ method of apportionment.
Valuation – professional advice is required. 
 

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CGT Main Residence Relief Print E-mail
Tax Articles - Property Taxes
Written by Mark McLaughlin CTA (Fellow) ATT TEP   
Sunday, 07 April 2013 00:00

Mark McLaughlin CTA (Fellow) ATT TEP outlines some important points about the main residence election.

Read more...
 
Property Disposals and Capital Gains Tax - Timing is Everything Print E-mail
Tax Articles - Property Taxes
Written by Tax Insider   
Monday, 18 February 2013 00:00

In a recent article for TAx Insider, Jennifer Adams has an eye to the end of the tax year on 5 April as she explains the principles behind taxing the sale of rental or investment properties.

Read more...
 
Business Property Tax Relief and Holiday Lets Print E-mail
Tax Articles - Property Taxes
Written by Mark McLaughlin CTA (Fellow) ATT TEP   
Sunday, 06 May 2012 23:00

Mark McLaughlin reports on a recent tax case regarding Inheritance Tax and holiday lettings.

Read more...
 
Property Taxation: More on the Abolition of the Renewals Allowance Print E-mail
Tax Articles - Property Taxes
Written by Tax Insider   
Saturday, 28 April 2012 23:00

James Bailey warns that HMRC is abolishing a useful tax allowance for property owners, for Tax Insider.

Read more...
 
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