Beneficiaries under a deceased’s will are deemed to inherit the assets at their market value at the date of death. However, if a property is sold within ... Continue Reading
A ‘Mesher’ order is a court order that postpones the sale of the marital home, the actual date of sale being dependent upon certain specified events. If ... Continue Reading
‘Hold-over’ relief is a way of deferring payment of CGT on certain assets including land and buildings used in a business until the new owner of the ... Continue Reading
The tax rules state that the purchaser’s entitlement to capital allowances in relation to a commercial property purchase is restricted to the disposal value ... Continue Reading
The ‘pre-owned assets tax’ (POAT) is an income tax charge levied on the ‘benefit’ earned on any property that had been formerly owned ... Continue Reading
Stamp duty land tax (SDLT) is charged on ‘money or money’s worth’, defined very widely to include consideration given directly by the purchaser ... Continue Reading
How does it work? • The beneficiary has the right to receive an income for a defined period (usually for the remainder of the beneficiary’s ... Continue Reading
When a commercial property is sold, part of the selling price will include the value of fixtures which have qualified for capital allowances in the seller’s ... Continue Reading
There is a limited concession to extend PPR relief should the owner not move into his only or main residence on purchase. This covers situations where the owner: • buys ... Continue Reading
When an individual sells his only or main residence, generally the gain is exempt from CGT due to principal private residence (PPR) relief. However two conditions ... Continue Reading
