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…
Details29th 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…
Details28th 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…
DetailsView 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…
DetailsJuly 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…
DetailsAm I a ‘nondom’? A ‘nondom’ is a term for someone who has a domicile in a country other than the United Kingdom. The rules on domicile are complex but broadly speaking you take the domicile of your father providing your mother and father were married when you were born or that of your mother…
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