Extension of Capital Gains Tax (“CGT”) to Non Natural Persons

22 March 2013 The extension to CGT is the second prong to the Chancellor’s attack on what HM Treasury felt was unacceptable SDLT avoidance using companies to hold residential properties. The first prong of course was the Annual Charge (now renamed the Annual Tax on Enveloped Dwellings or “ATED”). Much has been written on the…

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Annual Tax on Enveloped Dwellings (ATED)

22 March 2013 Taxation of High Value Residential Property The Budget on 20th March 2013 did not include any significant changes to the new tax charges in respect of UK residential properties worth more than £2 m, with the exception of renaming the Annual Residential Property Tax (“ARPT”) to the Annual Tax on Enveloped Dwellings…

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Statutory Residence Test – Finance Bill 2013

28th March 2013 As confirmed in the 2013 Budget, a statutory residence test will be introduced with effect from 6 April 2013. Ordinary residence will also be abolished for most tax purposes from this date. How will the new residency rules affect our clients? Clients who are already resident in the UK are unlikely to…

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