Here is a brief note of some of the changes announced by the Treasury on 3 December 2014 and a reminder of some other things that will come into force on 5 April 2014.
capital gains tax
HMRC have recently changed their guidance in relation to the use of overseas funds as collateral for loans by remittance basis users.
I need to work out the amount of PPR and lettings relief for the following scenario:
14/10/85 client purchased house as sole residence
Currently where a person owes tax of up to £3,000, the tax may be coded out through the taxpayers PAYE code.
The recent case of Alison Clarke v HMRC illustrates the kind of factors that the tribunal will consider when assessing whether or not the taxpayer was using a property as their sole or main residen
Liberal Democrat plans to increase the top rate of capital gains tax to as much as 35% will send a “bad signal” to business, according to the CBI.
HMRC has invited evidence on the potential impact of withdrawing three extra-statutory concessions (ESC) and views on draft legislation to enact two others.
It has always seemed that the exemption from CGT for the main residence was one of those things so ineluctably British that nobody could ever meddle with it, even
HM Revenue & Customs have announced the targets of their latest Task Force.
I have a client who has been living in a house for over 10 years. The house and mortgage was in his mothers name however the mortgage payment came out of his bank account.