• 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

March 2023

IHT400 – minor update to guidance

Yesterday
Form IHT400 is used to “apply for probate or confirmation if there’s Inheritance Tax to pay, or if the deceased’s...

March 2023

SDLT – woodland area – whether part of grounds – residential property – The How Development

Yesterday
The taxpayer has lost an appeal at the Upper Tribunal in a case concerning the meaning of residential property for...

March 2023

SDLT – whether document valid – time limit for closure notice – Redmount

Yesterday
The Upper Tribunal has rejected the taxpayer’s appeal in an SDLT case (Redmount Trust Company Ltd v HMRC UKUT 68...

March 2023

SDLT – new guidance on completing paper returns

Yesterday
HMRC have amended their extensive guidance on “How to complete your Stamp Duty Land Tax SDLT1 paper return”. The updated...

March 2023

Land transaction tax – WRA update – spring 2023

29 March 2023
The Welsh Revenue Authority has published its spring update on LTT, including details of webinars and a change to commentary...

March 2023

Land transaction tax – interest rate increases from 29 March 2023

28 March 2023
The Welsh Revenue Authority has announced that: “As a result of the Bank of England interest rate increase (announced 23...

March 2023

SDLT – online and paper returns – refund applications – updated HMRC guidance

27 March 2023
HMRC have updated their guidance on SDLT online and paper returns, which advises taxpayers how to “find out about sending...

March 2023

IHT – higher interest on late payments and repayments

24 March 2023
HMRC have updated their guidance on Rates and allowances: Inheritance Tax thresholds and interest rates, to show the higher interest...

March 2023

Land transaction tax – higher rates – residential property

24 March 2023
The Welsh Revenue Authority has published updated guidance on higher rates of LTT. The guidance is arranged under the following...

March 2023

IHT – claim to transfer unused nil rate band IHT – HMRC update form IHT402

23 March 2023
HMRC have updated the form Inheritance Tax: claim to transfer unused nil rate band (IHT402). Taxpayers use the IHT402 with...

March 2023

SDLT – fixtures and fittings – apportionment – updated HMRC guidance

22 March 2023
HMRC have updated their guidance in the Stamp Duty Land Tax Manual to clarify the HMRC position “on just and...

March 2023

SDLT – electricity distribution network – whether residential property – Faiers v HMRC

22 March 2023
The FTT has dismissed an SDLT appeal concerning the meaning of “residential property” within FA 2003, s. 116(1) – Faiers...

March 2023

Land and buildings transaction tax – Scottish government seeks consultation on green freeports relief

21 March 2023
The Scottish government seeks views on proposed legislative amendments to the Land and Buildings Transaction Tax (Scotland) Act 2013. These...

March 2023

IHT – excepted estates – use of form IHT205

21 March 2023
HMRC have advised that form IHT205 for excepted estates can no longer be used: “You can no longer use the...

March 2023

CGT – appeal against determination of UK residence dismissed – pre SRT tests applied – Lyons

20 March 2023
The First-tier Tribunal has dismissed an appeal against a CGT assessment for £1,087,413.68, upholding HMRC’s determination that the appellant was UK...

March 2023

Land Transaction Tax – higher residential rates – Hayes v Welsh Revenue Authority

16 March 2023
A taxpayer appeal against higher residential rates of tax failed at the FTT (Hayes v The Welsh Revenue Authority UKFTT...

March 2023

BUDGET – Capital gains tax

16 March 2023
The following Tax Information and Impact Notes were released in respect of CGT matters: Share or securities exchange Disposals of...

March 2023

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

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

March 2023

SDLT – transfer of rights – options – Court of Appeal dismisses taxpayer appeal – Fanning

15 March 2023
The Court of Appeal agreed with HMRC’s analysis of the SDLT liability in Fanning v HMRC EWCA Civ 263. Mr...

March 2023

CGT – CIOT urges government to publicise annual exempt amount reduction

14 March 2023
The Chartered Institute of Taxation has urged the government to publicise the imminent fall in the CGT annual exempt amount....

March 2023

SDLT – HMRC update manual

13 March 2023
HMRC have updated their Stamp Duty Land Tax Manual. The section “Scope: What is chargeable: Land transactions: Main subject matter...

March 2023

Capital gains – HMRC update manual

13 March 2023
HMRC have updated their Capital Gains Manual for the following: CG 65670 – Private residence relief: dependent relative: at 5...

March 2023

IHT – CIOT publishes IHTA 1984, s. 240 correspondence

10 March 2023
The Chartered Institute of Taxation has been allowed by the editors of Dymond’s Capital Taxes to publish correspondence from September 2022 between...

March 2023

Freeports – SDLT relief – clarification re Scotland and Wales

10 March 2023
Certain reliefs, including from SDLT, are available when buying land or buildings in a freeport tax site. HMRC have updated...

March 2023

Non-resident trusts – HMRC update guidance

7 March 2023
HMRC have updated their guidance Non-resident trusts. The section “what Capital Gains Tax you should pay” has been updated with...

March 2023

CGT – private residence relief – dependent relative – updated HMRC guidance

7 March 2023
HMRC have updated the guidance in the Capital Gains Manual on the topic of “Private residence relief: dependent relative”. According...

March 2023

UK residential property sales – reporting – ICAEW notes a reporting shortcut in some cases

2 March 2023
The ICAEW has identified circumstances in which it may not be necessary to submit a CGT PPD form (capital gains...

March 2023

IHT – form IHT400 updated

2 March 2023
HMRC have made a minor update to the IHT400 calculation form. The form is used to “apply for probate or...

March 2023

CGT and SDLT – lease valuations – Denning – Supreme Court refuses permission to appeal

1 March 2023
The Supreme Court has refused the taxpayer permission to appeal the case of HMRC v Denning & Anor EWCA Civ...

March 2023

CGT – HMRC provide paper return for UK property reporting

1 March 2023
HMRC have made available a download of the paper version of the CGT return for reporting the disposal of UK...

March 2023

Additional dwelling supplement – Revenue Scotland seeks views on proposed amendments

1 March 2023
Following a call for evidence and views Revenue Scotland have published a consultation paper Land and Buildings Transaction Tax – Additional...

February 2023

HMRC publish Stamp taxes newsletter: February 2023

28 February 2023
HMRC have published Stamp taxes newsletter: February 2023. The contents are: HMRC warns homeowners of the risks with stamp duty...

February 2023

SDLT – avoidance scheme ineffective – Olufote

27 February 2023
The First-tier Tribunal has dismissed an appeal against a determination that a tax avoidance scheme (“the scheme”) was ineffective in avoiding...

February 2023

SDLT – land transactions – main subject matter – HMRC technical error corrected

24 February 2023
HMRC have corrected a technical error in the Stamp Duty Land Tax Manual at SDLTM 00290 (Scope: What is chargeable:...

February 2023

CGT for trusts – updated HMRC guidance

21 February 2023
HMRC have updated their Capital Gains Manual in relation to Trusts: outline of CGT for trusts. The amended guidance is...

February 2023

CGT – contingent liabilities – date from which TMA 1970, s. 43 applies – updated HMRC guidance

21 February 2023
HMRC have updated their guidance in the Capital Gains Manual on the effect of TCGA 1992, s. 49. The section...

February 2023

IHT – reversionary interest not excluded property – transfer subject to tax – Executors of Linington & Anor

15 February 2023
The First-tier Tribunal has dismissed an appeal against HMRC’s contention that certain inheritance tax (IHT) planning arrangements (“Arrangements”) entered into...

February 2023

CGT – BADR – HMRC query whether taxpayers have exceeded lifetime limit

15 February 2023
HMRC’s Wealthy External Forum is sending letters to individuals who have claimed business asset disposal relief in their 2021-22 tax...

February 2023

IHT – agricultural tenancies – small change to HMRC guidance

14 February 2023
HMRC guidance in the Inheritance Tax Manual on agricultural tenancies (IHTM 24212) has been updated to include a reference to...

February 2023

CGT – residential property gains – new HMRC guidance

14 February 2023
HMRC have added a new section on “residential property gains” to their Capital Gains Manual. The commentary, at CG 73550,...

February 2023

Scottish taxes – additional dwelling supplement consultation launched

13 February 2023
Following a recent review of land and buildings transaction tax – additional dwelling supplement, the Scottish government have published proposed...

February 2023

Scottish tax – additional dwelling supplement – claim for repayment of tax denied – taxpayer failed to sell property within 18 months – Tavendale

12 February 2023
The First-tier Tribunal for Scotland has dismissed an appeal against a decision of Revenue Scotland to deny repayment of additional...

February 2023

The Stamp Duty Land Tax (Temporary Relief) Act 2023 receives Royal Assent

10 February 2023
The Stamp Duty Land Tax (Temporary Relief) Act 2023 (see https://claritaxnews.com/capital-taxes/sdlt-mps-agree-to-reverse-threshold-increase-from-april-2025/) received Royal Assent on 9 February 2023. The Act...

February 2023

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

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

February 2023

IHT – HMRC update guidance for new interest rates

6 February 2023
HMRC have updated their guidance Rates and allowances: Inheritance Tax thresholds and interest rates to show the new interest rate...

February 2023

SDLT – relevant property not a replacement for appellant’s main residence – Cohen v HMRC

3 February 2023
The FTT has held that relevant property acquired by the taxpayer was not, for SDLT purposes, a replacement for the...

February 2023

CGT on UK property accounts – updated HMRC guidance

2 February 2023
HMRC have updated their guidance on Managing your client’s Capital Gains Tax on UK property account, which advises on “how...

January 2023

CGT – absolute entitlement – part of trust fund – land in Ireland – updated HMRC guidance

31 January 2023
HMRC have updated their short page on this topic in the Capital Gains manual at CG 37511. The amended wording...

January 2023

Private residence relief – part of house used for business – updated HMRC guidance

31 January 2023
HMRC guidance in the Capital Gains manual at CG 64660 has been updated. The section is entitled “Private residence relief:...

January 2023

SDLT – acquisition of flat with right to use communal garden – whether wholly residential – Sexton v HMRC

28 January 2023
The FTT has considered a case where the taxpayer bought a flat with the benefit of a right to use...
    12

Latest articles (all topics)

  • Forms P11D and P11D(b) – approved methods for delivery
  • VAT on goods exported from the UK (VAT Notice 703)
  • VAT – Making Tax Digital – agents
  • Payroll – annual reports and tasks – HMRC webinar
Read more

Weekly email alerts

Sign up here for this free service.

banner
wide banner

©2023 All Rights Reserved

Terms & Conditions | Privacy