• Home
  • Business taxes
  • Personal taxes
  • Capital taxes
  • International
  • VAT
  • Tax admin
  • Resources
  • Books
  • About
  • Contact
Claritax News
  • Home
  • Business taxes
  • Personal taxes
  • Capital taxes
  • International
  • VAT
  • Tax admin
  • Resources
  • Books
  • About
  • Contact
  • Business taxes
  • Personal taxes
  • Capital taxes
  • International
  • VAT
  • Tax admin
Claritax News

Capital taxes

Capital gains tax, Inheritance tax, stamp duties, trusts and charity tax matters

September 2023

The Post Office Horizon Shortfall Scheme and Group Litigation Order Compensation Payments (Inheritance Tax Relief) Regulations 2023

20 September 2023
SI 2023/1009 comes into force on 9 October 2023, but with retrospective effect. The effect of the Instrument is summarised...

September 2023

SDLT – strike-out application – jurisdiction – Warner

19 September 2023
The FTT has ruled that there was no appealable decision by HMRC and that there were no other issues that...

September 2023

Stamp duty and stamp duty reserve tax – issue of UK shares onto foreign markets – retention of 0% charge – Treasury publishes draft legislation

18 September 2023
The treasury has published draft legislation ahead of its inclusion in a future Finance Act in respect of stamp duty...

September 2023

SDLT – reservation agreement was not an option or a right of pre-emption – residential rate applied – Landmaster Investment Ltd and Al Zoebi

14 September 2023
The First-tier Tribunal has dismissed two joined appeals against a common decision that the total consideration paid for the purchase...

September 2023

Welsh Revenue Authority raises over £400 million in tax revenue for Wales

14 September 2023
The Welsh Revenue Authority (WRA) has issued a press release stating that it has raised more than £400 million in...

September 2023

HMRC performance and service levels – IHT

14 September 2023
HMRC have a service dashboard allowing agents to “check current processing times and service levels for post and online requests”....

September 2023

SDLT – property in need of renovation was still suitable for use as dwelling – Henderson Acquisitions Ltd

13 September 2023
The First-tier Tribunal has dismissed an appeal against a decision that a property in need of renovation was subject to...

September 2023

IHT – residence nil rate band – HMRC update guidance

13 September 2023
HMRC have updated their guidance Claim the residence nil rate band. Guidance about the Transferable Residence Nil Rate Band from...

September 2023

SDLT – mixed or wholly residential use – garages occupied with dwelling – access to shared garden – Espalier Ventures Property (Lansdowne Road) Ltd

11 September 2023
The First-tier Tribunal has dismissed an appeal that the purchase of three separate property interests should be treated as mixed...

September 2023

CGT exemption for gilts – list updated

8 September 2023
HMRC publish a list of “gilt-edged stocks and bonds charged on the National Loans Fund”. This has been updated (8...

September 2023

CGT – daughters introduced as shareholders prior to share exchange – avoidance not a main purpose of scheme – planning effective – no tax on share exchange – entrepreneurs’ relief subsequently available – Wilkinson

6 September 2023
The First-tier Tribunal has upheld an appeal that an exchange of shares in one company (Paragon Automotive Limited – “P...

September 2023

SDLT – notice of enquiry sent shortly before deadline deemed to have arrived on time – closure notice valid – Langley

6 September 2023
The First-tier Tribunal has dismissed an appeal that a Closure Notice issued by HMRC under FA 2003, Sch. 10, para....

September 2023

ATED – return submitted late but not actually required – late-filing penalties not applicable – Derrida Holdings Ltd

5 September 2023
The First-tier Tribunal has upheld an appeal against late filing penalties in respect of an annual tax on enveloped dwellings...

September 2023

Stamp duty land tax – letting garage did not make property “mixed use” – Kozlowski

4 September 2023
The First-tier Tribunal has dismissed an appeal against a decision that letting a garage on the day of completion did...

September 2023

Capital gains – HMRC update manual

4 September 2023
HMRC have made a number of amendments to their Capital Gains Tax Manual in August and September. The most recent...

September 2023

HMRC One to Many/nudge letter – gift holdover relief claim

4 September 2023
The CIOT reports that HMRC have launched a One to Many letter campaign to taxpayers who have submitted a 2021-22...

August 2023

Financial Planning with Trusts 2023-24 – published this week

30 August 2023
Claritax Books are this week publishing the 12th edition of this title, which has been one of the most popular...

August 2023

IHT – HMRC update manual for compensation payments

29 August 2023
HMRC have updated their Inheritance Tax Manual with regards to the treatment of a number of compensation payments: IHTM10260 –...

August 2023

Chattels and chattel valuations – updated HMRC guidance

22 August 2023
HMRC have made changes to the Capital Gains Manual in relation to “Chattels and other assets: Chattels and wasting assets:...

August 2023

Non-resident companies – updated HMRC guidance

22 August 2023
HMRC have made substantive changes to the Capital Gains Manual in relation to non-resident companies. The amended guidance covers non-resident...

August 2023

Land transaction tax – multiple dwellings – updated guidance

15 August 2023
The Welsh government has updated its guidance on Land Transaction Tax relief for acquisitions involving multiple dwellings. https://www.gov.wales/land-transaction-tax-relief-acquisitions-involving-multiple-dwellings-technical-guidance https://www.gov.wales/land-transaction-tax-relief-multiple-dwellings-guide Related...

August 2023

Completing a stock transfer form

14 August 2023
HMRC publish guidance on how to complete a stock transfer form and get it processed, arranged under the following headings:...

August 2023

CGT – negligible values – updated list to end of July 2023

9 August 2023
HMRC’s list of shares which have been declared as being of negligible value has been updated and is now valid...

August 2023

CGT – discovery – penalties – Beesley

9 August 2023
The case concerned two CGT discovery assessments of around £32,000 each, and penalties relating thereto. Beesley and Another v HMRC...

August 2023

SDLT – purchase of house and land – garden or grounds – multiple dwellings relief – Gibson

9 August 2023
In a case in which the taxpayer represented himself, the FTT has ruled that no multiple dwellings relief was due...

August 2023

IHT – HMRC update interest rates

4 August 2023
HMRC have updated their guidance Rates and allowances: Inheritance Tax thresholds and interest rates. The “Inheritance Tax interest rates from...

August 2023

Land and buildings transaction tax – taxpayer must occupy first property for it to be main/only residence for the purpose of reclaiming additional dwelling supplement on second – Duran

4 August 2023
The first-tier Tribunal for Scotland has dismissed an appeal that a taxpayer, Mr Duran, should be entitled to reclaim land...

August 2023

SDLT – sewerage treatment plant was part of garden and grounds of residential property – Bloom

4 August 2023
The First-tier Tribunal has dismissed an appeal that an area including a sewerage treatment plant (STP) was not part of...

August 2023

Capital gains tax statistics

3 August 2023
HMRC publish “commentary, supporting documents, and tables relating to annual Capital Gains Tax statistics”. The tables and commentary have been...

August 2023

IHT home loan scheme found to be ineffective – Elborne

2 August 2023
This case, at the First-tier Tribunal, concerned an IHT home loan scheme, designed to remove the value of her home...

August 2023

IHT – claiming the residence nil rate band – HMRC publish guidance

2 August 2023
HMRC have published guidance Claim the residence nil rate band. The guidance explains how to claim the residence nil rate...

July 2023

IHT – restricted geographical scope of agricultural property relief and woodlands relief

18 July 2023
These inheritance tax reliefs are to be restricted to the UK only from 6 April 2024, now that compatibility with...

July 2023

Tax treatment of payment for transferring a licensing agreement – Upper Tribunal agrees with HMRC – Jasper Conran and JC Vision Ltd

17 July 2023
The facts of this case were neatly summarised by the Upper Tribunal: “In 2007 Jasper Conran, the established fashion designer,...

July 2023

CGT property return – form PPDCGT – trial extended

17 July 2023
HMRC are extending their trial of a downloadable paper CGT return for property disposals. The trial will now continue to...

July 2023

Main residence relief – ownership period – spouses or civil partners and legatees – updated guidance

12 July 2023
HMRC have updated their guidance on this topic in the Capital Gains Manual at CG 64925. https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg64925 Related content from...

July 2023

Share exchanges – updated HMRC guidance

12 July 2023
HMRC have updated their Capital Gains Manual guidance on TCGA 1992, s. 135 and related matters, as follows: Share exchange:...

July 2023

Wales – land transaction tax and landfill disposal tax – tax avoidance or evasion – Welsh government issues guidance

10 July 2023
The Welsh government has issued guidance Report tax avoidance or evasion in respect of land transaction tax and landfill disposal...

July 2023

CGT – negligible values – updated list to end of June 2023

7 July 2023
HMRC’s list of shares which have been declared as being of negligible value has been updated and is now valid...

July 2023

The Administration of Estates Act 1925 (Fixed Net Sum) Order 2023

7 July 2023
SI 2023/758 was made on 5 July 2023. “This Order specifies the fixed net sum referred to in paragraph (B)...

July 2023

Inheritance tax – corrective account

5 July 2023
Form C4, used to correct the amount of IHT paid, has been updated by HMRC. A link to the postal...

July 2023

Wales – land transaction tax – online filing

5 July 2023
The Welsh government has published guidance allowing tax professionals to file LTT returns online. https://www.gov.wales/file-land-transaction-tax Related content from Claritax Books...

June 2023

IHT interest rates increasing

30 June 2023
HMRC’s guidance on inheritance tax thresholds and interest rates has been updated to show the increase in interest rates applying...

June 2023

Land and buildings transaction tax – green freeports – consultation – Scottish government response

28 June 2023
The Scottish government has published its overview of findings and its summary of responses to its consultation on The Land...

June 2023

Inheritance tax – domicile of choice – Shah

28 June 2023
The executors of an estate have lost their domicile appeal at the First-tier Tribunal in Shah v HMRC UKFTT 539...

June 2023

The Taxation of Chargeable Gains (Gilt-edged Securities) Order 2023

27 June 2023
SI 2023/710 was made on 26 June 2023. This concerns TCGA 1992, s. 115, which provides that gains on the...

June 2023

90-second overview – IHT exemptions for lifetime transfers

26 June 2023
The following inheritance tax exemptions are available for lifetime transfers. These are permanent exemptions, as opposed to the conditional nature...

June 2023

90-second overview – variables affecting SDLT rates – residential property

26 June 2023
Numerous factors can affect the rate of SDLT payable. This overview of the rates applying for the purchase of residential...

June 2023

Asset depositions of failed tax avoidance scheme not “mistake” that could be set aside – Bhaur

23 June 2023
The Court of Appeal (CoA) has dismissed an appeal against a refusal of the High Court (HC) to set aside...

June 2023

IHT – Reporting inheritance tax for excepted estates – new HMRC guidance

20 June 2023
HMRC have published new guidance Reporting inheritance tax for excepted estates. The guidance advises how to report inheritance tax for...

June 2023

Capital Gains Tax Manual – HMRC update “capital payments – accommodation”

20 June 2023
HMRC have updated their Capital Gains Tax Manual. The section “CG38660 – Capital payments – accommodation – to 5 April...
    1234

Latest articles (all topics)

  • VAT – UT confirms fees paid to SIPP administrator were not exempt insurance transactions – Intelligent Money Ltd
  • VAT – UK businesses certificate of status for overseas VAT refunds – HMRC update guidance
  • Income tax – employees charging electric cars at home – HMRC update guidance
  • Tax simplification – ICAEW reports progress
Read more

Weekly email alerts

Sign up here for this free service.

General Tax Annuals
wide banner

©2023 All Rights Reserved

Terms & Conditions | Privacy