I understand that receipts for dilapidations may be treated in one of three ways depending on the circumstances.
IHT
The government should either scrap the current inheritance tax (IHT) system or make significant changes to make it simpler and fairer, according to a new report from Grant Thornton.
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......and of course the land on which it is built and the large garden.
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My client has allowed her house to be used as security for a loan taken out by her son of £200k.
Are there any IHT implications for my client?
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I'm getting a lot of queries about planning for grandchildren's university fees. ( Isn't everybody?)
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An attempt by the government to encourage people to leave money to charities in their wills has “fundamental defects” and should be replaced, the Chartered Institute of Taxation (CIOT) has said
In 2000 a friend was advised by another accountant that she should transfer her property into her sons name so that she may be able to claim housing benefit - bad advice!
please refresh my understanding.
Client wants to transfer residential properties to children now. He will have to pay CGT and SDLT on the transfers based on market value.
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The Office of Tax Simplification has targeted 44 tax reliefs for elimination, plus 17 more that should be simplified.
These tables reflect announcements made on 24 March, 22 June and 2 & 9 December 2010.
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