A form of ‘reinvestment relief’ is available in situations where ownership of property is swapped or is changed from joint ownership to each owning their ... Continue Reading
Beneficiaries under a deceased’s will are deemed to inherit the assets at market value as at the date of death. However, if a property is sold within four ... Continue Reading
On separation many couples decide that one party is to remain in the main residence – especially if there are children. If this is the case the sale of the ... Continue Reading
The ‘Pre-Owned Assets Tax’ (POAT) is an income tax charge levied on the ‘benefit’ earned on any property currently owned by another but of ... Continue Reading
The tax rules state that the purchaser’s entitlement to capital allowances in relation to commercial property be restricted to the disposal value that the ... Continue Reading
Where a taxpayer owns a property as his or her main residence but is obliged to live elsewhere in job-related accommodation, the property could be deemed not eligible ... Continue Reading
Should a property that was initially a main residence be converted into flats and sold, PPR will be denied in respect of the gain attributable to the period of ownership ... Continue Reading
If one spouse/civil partner owns rented properties solely in their own name but is a higher or additional rate taxpayer and the other spouse/civil partner is not, ... Continue Reading
‘Value shifting’ occurs when the value of a property is altered as a result of passing an interest in the property to another. Anti-avoidance rules ... Continue Reading
When a commercial property is sold, part of the selling price will include the value of fixtures that have qualified for capital allowances in the seller’s ... Continue Reading
