Construction Industry Scheme Retentions and recent case studies.
Lets takes a look at an uncommon win for the taxpayer in the construction industry scheme, and a potential lifeline for people caught out by it. The case of Beech Developments (et al.) v HMRC [2024] EWCA Civ 486 is most welcome for those businesses that catch a nasty...
Selling a property at a minimized value
Detailing tax effects related to the selling of a property below its market value. There are numerous reasons an owner sells a property at less than its market price. Nonetheless, doing so can have major tax implications, relying on the circumstances and the...
Reporting residential property gains and tax payments
When and how to report a gain on the disposal of a house and pay the associated tax. Not all residential property is equal when it comes to the tax treatment of gains. Establishing the scene Where a property is marketed or otherwise gotten rid of (e.g., offered to a...
Exploring the Pros and Cons: Residential Property Purchase through Limited Company vs Sole Trader
Introduction The decision to invest in residential property is a significant one, and it comes with various considerations. Among these is the choice of the legal structure through which to make the purchase – whether as a sole trader or through a limited company....
Principal Private Residence – a full explanation
This unique article examines the capital gains tax consequences of the disposal of a taxpayer’s principal private residence. Although a principal private residence is not a chargeable asset for Capital Gains Tax purposes, a CGT liability may arise when a property is...Our Average Score
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