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Latest updates, advice & developments from Rosetta Tax
It could have been a lot worse …
Many advisers have spent the last few weeks racing to complete company share sales to ensure that sellers can take advantage of low CGT rates, especially in light of a fear that Business Asset Disposal Relief would be curtailed. For their clients, the Budget brought mixed
Read MoreWith the suggested cut in stamp duty land tax rates not making an appearance, today’s Autumn Statement did not include many headline announcements focused on the real estate sector.
Read MoreIn the Autumn Statement, the Chancellor announced rate reductions and other changes to national insurance contributions.
Read More“The beatings will continue until morale improves!”
In September, the Government headed by Liz Truss announced the biggest package of tax cuts in living memory. Conservative MPs loved it, but the markets did not agree.
Read MoreNo news is good news - or is it?
Today’s Budget saw the shortest list of major tax policy announcements in many years. The emphasis was all on how much cash Rishi could splash. But behind the largesse (and the eye-catching alcohol duties re-jig – fruit-based cider, anyone?), tax rises previously announced are taking effect.
Read MoreTax rises for all, particularly business.
Along with the “R rate”, “furlough” and “lockdown”, a new term may well come to be associated with the Covid-19 pandemic and the Government’s response to it: “fiscal drag”: the practice of raising tax receipts by freezing allowances and relying on inflation to drag taxpayers into higher tax brackets.
Read MoreThe March 2021 Budget announcement of the continuation of the stamp duty land tax holiday was a welcome, if much trailed measure.
However, the Chancellor’s promise to prevent a cliff edge at the end of the holiday looks unlikely to come true in the real world.
Read MoreNew processes apply for stamping documents and paying stamp duty during the current lock-down. Instead of sending physical documents to the Stamp Office, electronic copies must be sent instead. Cheques sent to the Stamp Office will not be processed - read more to find out the full details.
Read MoreIn these difficult times we wanted to assure all our clients that Rosetta Tax is open for business as usual. Our business continuity plan allows our team of tax lawyers to be able to provide our business tax, VAT and SDLT advice without interruption.
Read MoreAlthough there were no huge surprises, Chancellor Rishi Sunak’s first Budget contained much of interest for the real estate sector. We summarise the main points in this article.
Read MoreStamp duty land tax (SDLT) has become increasingly complex in recent years, both in its application to transactions and in the implications for those who have to explain it to property purchasers. Long gone are the days when the amount of tax depended only on the nature and location of the property.
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