Autumn Statement 2012

December 2012 As with so many previous announcements, our commentary is more about what the Chancellor did not say rather than what he did say… Taxation of High Value Residential Properties (£2m+) Although no detail was released today, rather confusingly the Chancellor seemed to think that the legislation being published next week would relate to…

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Our article in FT Adviser – Specialist blasts crackdown on tax avoidance

29th August 2012 Specialist blasts crackdown on tax avoidance The Treasury’s consultation document on the fair taxation of residential property transactions uses “ill-defined and emotive language”, Mark Davies has claimed. The director of London-based chartered tax adviser Mark Davies & Associates, said the consultation document and subsequent legislation that followed chancellor George Osborne’s budget objective…

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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…

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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…

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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…

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