Real estate tax

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Practice notes
Unilateral relief, like double tax relief, aims to relieve double taxation. Subject to certain conditions being satisfied and specific limits,...
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9th Nov
Practice notes
Plant and machinery allowances are the most widely used form of capital allowance. Plant and machinery is often (wrongly) interpreted as if the terms...
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Produced in partnership with Martin Wilson 12th Jan
Practice notes
It is market practice for a tax covenant, also known as a tax deed, to form part of the transaction documents in respect of a sale of all the shares...
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9th Nov
Practice notes
The reasons why a company might carry out a demerger, and the different ways in which a demerger may be structured, are described in Practice Notes:...
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Produced in partnership with Zoe Feller of Bird & Bird 12th Jan
Practice notes
This Practice Note describes the law and practice relating to elections under section 198 or 199 of the Capital Allowances Act 2001 (CAA 2001), which...
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Produced in partnership with Martin Wilson 12th Jan
Practice notes
It is standard market practice for loan agreements (also known as facility agreements), whether bilateral or syndicated, to:•prohibit a borrower from...
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Produced in partnership with Eloise Walker of Pinsent Masons 12th Jan
Practice notes
This Practice Note is about the meaning of a scheme of reconstruction for tax purposes.Tax neutrality is maintained where a company (company A) enters...
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9th Nov
Practice notes
This Practice Note explains:•what a determination in respect of direct tax (ie a direct tax determination) is•when HMRC might issue a direct tax...
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Produced in partnership with Philip Rutherford 12th Jan
Practice notes
Where a dispute is brought to an end by a payment of damages or compensation, whether under a court order or an out-of-court settlement agreement:•the...
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9th Nov
Practice notes
A damages or compensation payment may attract VAT. This depends on exactly what the payment is for. If it is purely compensatory, it will be outside...
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9th Nov
Practice notes
Overdrafts, term loans and revolving credit facilitiesThree common types of loan facility are:•overdrafts•term loans, and•revolving credit facilities...
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9th Nov
Practice notes
The Enterprise Investment Scheme (EIS) is designed to encourage investment in smaller, higher-risk trading companies by offering a range of tax...
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9th Nov
Precedents
1 Withholding and grossing up 1.1 All sums payable under this [Agreement] by or on behalf of any party (for the...
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9th Nov
Practice notes
A management buyout, or MBO, involves the acquisition of a business by its existing management team usually with the help of private equity financing....
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9th Nov
Practice notes
The international movement of capital rules should be considered whenever:•any non-UK tax resident subsidiary (referred to in this note as a foreign...
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9th Nov
Practice notes
This Practice Note:•explains:◦the purpose of the tax indemnity clause that is normally found in a loan agreement, and◦that the standard drafting of...
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9th Nov

Most recent Real estate tax content

Q&As
The temporary increase in the nil rate band for SDLT applies to transactions with an effective date that falls within the period from 8 July 2020...
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16th Apr
Precedents
1Construction Industry Scheme—for use where the landlord’s contribution is a reverse premiumThe Landlord and Tenant acknowledge that the Landlord’s...
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14th Apr
Practice notes
The tax regime for Property Authorised Investment Funds (PAIFs) is designed to create an open-ended collective investment vehicle for property which...
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Produced in partnership with Martin Shah of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP 14th Apr
Practice notes
The regime for property authorised investment funds (PAIFs) was introduced in 2008.It created a tax beneficial regime for open-ended authorised...
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Produced in partnership with Martin Shah of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP 14th Apr
Practice notes
As well as ensuring they continue to meet the conditions for the tax regime under which they operate, Property Authorised Investment Funds (PAIFs)...
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Produced in partnership with Martin Shah of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP 14th Apr
Practice notes
The intention of the tax regime for property authorised investment funds (PAIFs) is to tax investors in a similar way to those that invest directly in...
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Produced in partnership with Martin Shah of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP 13th Apr
Practice notes
In order for a Property Authorised Investment Fund (PAIF)to operate within the PAIF regime without incurring additional tax charges or other...
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Produced in partnership with Martin Shah of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP 13th Apr
Practice notes
This Practice Note sets out the obligations imposed by the construction industry scheme (CIS) rules on sub-contractors, including:•registration•the...
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12th Apr
Practice notes
The construction industry scheme (CIS) was devised to limit the amount of tax lost as a result of sub-contractors in the construction industry...
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12th Apr
Practice notes
This Practice Note is about the VAT reverse charge for building and construction work, which has applied since 1 March 2021.The charge was originally...
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Produced in partnership with Martin Scammell 12th Apr
Practice notes
This Practice Note is about the scope of the VAT exemption for property transactions. In many cases the exemption is overridden by other provisions,...
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Produced in partnership with Martin Scammell 12th Apr
Practice notes
In practice, a tax lawyer is likely to come across the construction industry scheme (CIS) rules when representing:•a party to:◦a construction...
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12th Apr
Practice notes
The construction industry scheme (CIS) was devised to limit the amount of tax lost as a result of sub-contractors in the construction industry...
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12th Apr
Practice notes
This Practice Note details the obligations imposed by the construction industry scheme (CIS) rules on contractors, covering the requirement...
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12th Apr
Practice notes
FORTHCOMING CHANGE: Finance Bill 2021 (FB 2021) will, in relation to tax arrangements (within the meaning of the GAAR) entered into at any time...
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12th Apr
Practice notes
This Practice Note explains that penalties may be payable for:•failing to:◦submit construction industry scheme (CIS) returns on time, or◦pay the tax...
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12th Apr
Practice notes
One of the most common reasons for sub-contractors losing their gross payment status is failure to satisfy their tax compliance obligations, such as...
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9th Apr
Practice notes
FORTHCOMING CHANGES relating to insolvency and tax: Finance Act 2020 introduces provisions where:•HMRC becomes a secondary preferential unsecured...
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Produced in partnership with John Baldry of Temple Tax Chambers 9th Apr
Practice notes
The distinction between trading and investment is key in determining the correct tax treatment of transactions involving land or property. Land, more...
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9th Apr

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