Our article in CityA.M. – Tax shouldn’t be determined by subjective fairness

28th August 2012 Taxation shouldn’t be determined by subjective opinions of fairness The Treasury’s latest consultation – Ensuring the Fair Taxation of UK Residential Property Transactions – has just closed. We responded to it, and disagreed not only with the substance of the policies, but also the way in which the consultation was framed around…

Details

Our response to HMRC’s Residential Property Consultation August 2012

View this in PDF form here. 1. Introduction 1.1. Mark Davies & Associates Limited (MDA) is pleased to be able to comment on the consultation document (condoc) titled ‘Ensuring the Fair Taxation of Residential Property Transactions’ issued in May 2012. 1.2. As a firm of professional tax advisors we are hugely troubled by the tone…

Details

The Taxation of Residential Property July 2012

July 2012 The Budget 2012 saw the Chancellor announce a raft of measures targeted at tax avoidance on valuable residential properties. We had a new 7% rate introduced for residential properties worth over £2 million and a new super rate of 15% for any such properties “enveloped” by non natural persons. Despite the rhetoric about…

Details

National Insurance Changes – Iceland, Norway and Liechtenstein

July 2012 Executive Summary -Changes to the rules on temporary postings from the home State to other States (e.g. from the UK to Iceland or vice versa); -Changes to the rules for individuals who undertake activities in two or more States (e.g. in both the UK and Iceland); and, -Employers previously outside the scope of…

Details

Budget 2012 – Residential Property Ownership

These days the Budget seldom seems to pass without at least one sacrificial lamb offered up to appease the masses. In the past few years we’ve had attacks on non domiciliaries and high earners (read bankers). This year it was the turn of Stamp Duty Land Tax (“SDLT”). Media reports on SDLT avoidance techniques rose…

Details