Investors Relief

Investors Relief A new capital gains tax relief for investments in qualifying shares of a trading company was introduced in Finance Act 2016. Investors’ Relief was introduced to provide an incentive for external investors to invest in unlisted trading companies over the medium to long-term. For a qualifying person selling shares, in order for investors’ relief to be available, the… Read More

Stamp Duty Land Tax (SDLT) – Probate Properties

Stamp Duty Land Tax (SDLT) – Probate Properties One of the biggest hurdles in these climates for businesses in property development is the Stamp Duty Land Tax (SDLT) payable on the purchase. However, there are reliefs that are available in relation to specific types of property such as probate properties whereby SDLT can be potentially avoided. Where a property trader… Read More

Entrepreneur’s Relief: The Changes

Entrepreneur’s Relief: The Changes Before the March Budget, there were growing fears that Entrepreneur’s Relief (ER) might be scrapped altogether. For many, a relief that it wasn’t. Entrepreneur’s relief survives, but with a different name – ‘business asset disposal relief’, with a much lower lifetime limit. The lifetime allowance has now been dramatically scaled back from £10m to £1m as… Read More

Enterprise Management Incentive (EMI) Share Options

Enterprise Management Incentive (EMI) Share Options As an incentive that small to medium-sized companies can offer to key employees, EMI share options have proven to be extremely effective. They are a tax-effective and mutually beneficial agreement between a company’s custodians (Board of Directors), owners (shareholders) and those key employees who offer additional value to the business. The EMI share option… Read More

Property Tax Essentials: 30-day CGT deadline and PPR relief

From 6 April 2020, the new 30-day reporting and payment window will come into effect for sales of residential property where a capital gains tax (CGT) charge arises. A standalone return will have to be submitted to HMRC within 30 days of completion, along with a payment on account of CGT based on an estimated calculation of the gain. Disposals… Read More

Onshoring – other solutions

You can also just liquidate the offshore company, with the distribution of the UK properties going to the shareholders. This should be treated as capital distributions and so subject to UK CGT. As there wouldn’t be any consideration payable for the properties, there shouldn’t be any SDLT issues. The properties would now be held in the hands of the individuals… Read More

UK tax reporting requirements for Offshore property companies

Overview In recent years there have been a number of changes with regards to the UK tax reporting requirements for offshore property companies. These changes mean there is a lot more responsibility placed on offshore property companies to account for UK tax. This article outlines the main changes that offshore property companies need to be aware of. Non-Resident Capital Gains… Read More