This course will consider the tax issues which can arise when heritable property (both residential and commercial) is being purchased or sold and well as retained for use by the owner as occupier or landlord.
The course will deal with the tax law, including relevant case law, current at that time and will take account of HMRC practice and the 2018 Finance Acts and the Budget in the Autumn 2018.
A number of worked examples will be included. The course will deal with situations where the property is owned by a company as well as by an individual or by trustees.
The topics to be covered will include:
- Capital gains tax issues relating to disposal and acquisition of heritable property for UK resident and non-resident taxpayers
- Income tax/corporation tax issues affecting heritable property and its uses by owners (including letting where a detailed discussion of the rules will be covered for wear and tear allowances from 6 April 2016, interest from 6 April 2017 and rent-a-room relief from 6 April 2016)
- the Annual Tax on Enveloped Properties (ATED) and related issues
- capital allowances - including issues relating to purchasing/selling heritable property
- VAT issues relating to purchasing/selling using heritable property and related matters
- a brief review of LBTT issues