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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
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
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
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
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
Coronavirus (COVID-19): HMRC has stated in its International Manual that if a financial institution cannot meet the FATCA reporting deadline of 31 May...
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Produced in partnership with Ali Kazimi and Chris Orchard of Hansuke Consulting Limited 12th Jan
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
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
Brexit: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...
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Produced in partnership with Martin Shah and Gary Barnett of Simmons & Simmons LLP 12th Jan
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
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
FORTHCOMING CHANGE: HMRC is consulting (13 July to 10 August 2020) on draft regulations to provide a deduction from a UK entity’s equity and...
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Produced in partnership with Charlotte Sallabank of Katten Muchin Rosenman UK LLP 12th Jan
Practice notes
Brexit: This Practice Note contains information on subjects impacted by the UK’s withdrawal from the EU. The Taxation (Cross-border Trade) Act 2018,...
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Produced in partnership with John Fuszard of Sagars Accountants Ltd 12th Jan
Practice notes
Stamp duty land tax (SDLT) ceased to apply to any land transaction involving any interests in or over land in Scotland from 1 April 2015. From that...
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9th Nov
Practice notes
FORTHCOMING CHANGE relating to property rich collective investment vehicles and certain investors: HMRC is consulting until 16 December 2020 on draft...
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9th Nov
Practice notes
Part 8 of the Corporation Tax Act 2009 (CTA 2009) is a specific corporation tax regime that applies exclusively to the gains and losses of intangible...
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Produced in partnership with Anne Fairpo of Temple Tax Chambers 12th Jan

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
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
Practice notes
This Practice Note is about the zero-rating of VAT for developers selling or leasing dwellings that they have constructed.Why does zero-rating...
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Produced in partnership with Martin Scammell 9th Apr
Practice notes
This Practice Note is about the VAT treatment of residential service charges.Service charges payable to landlordsService charges are often payable to...
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Produced in partnership with Martin Scammell 9th Apr

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