Disposals of UK residential property by UK residents
Budget 2021: ATED charges to increase in line with inflation
Budget 2021: What do the announcements mean for Property?
Budget 2021: Non-resident surcharge for residential purchases from April 2021
Budget 2021: What Capital Allowances were covered?
Substantial tax relief can be available by making the most of your capital allowance claims. Fixtures in a commercial building (or multi-unit residential property) can give significant tax savings and should be factored in when structuring an acquisition. The capital allowances rules are complex, and they are partly in statute and partly in case law. Sometimes you may want to make elections on a property purchase/sale to get the best tax treatment – the election is often required at the time of the deal.
The Crowe team have helped us on every step of our adventure from providing timely information, their quality and speed of service, as well as their approachability and ‘can do’ attitude was much appreciated. We would definitely recommend Crowe to others. Thank you for helping us save time on compliance and provide assistance with reports.
A client with a turnover of £10 million needed support understanding their tax risks. We established that certain processes concerning the Construction Industry Scheme had not been followed correctly and that the tax status of a number of workers needed clarification as to whether they were genuinely self-employed.
HMRC challenged a taxpayer’s categorisation of properties between investment and stock, seeking to reclassify a number which would give rise to substantial UK tax costs.