Beware undisclosed property income!

Beware undisclosed property income!

Undisclosed property income has long been on HMRC’s radar and its data sharing system has made it easier to pursue those taxpayers at fault. Last month, Reuters reported on an investigation into the UK arm of Airbnb, conducted by HMRC,

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Stamp duty surcharge on non-resident property transactions

Stamp duty surcharge on non-resident property transactions

The government has issued draft legislation outlining how the two per cent Stamp Duty Land Tax (SDLT) surcharge will apply to non-resident property transactions. ‘Relevant period’ for stamp duty residence test From 1 April 2021, the number of days a

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Tenants quizzed about landlord’s tax affairs

landlord's tax affairs

Tenants are now being asked questions by HM Revenue & Customs (HMRC), about their landlord’s tax status and liabilities, as they are prompted to respond to official ‘fact-finding’ letters. HMRC has been targeting landlords for some time now, to identify

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Capital Gains Tax: less time to settle liabilities

Capital Gains Tax: less time to settle liabilities

HM Revenue & Customs (HMRC) recently consulted on new rules associated with the payment of Capital Gains Tax (CGT) when disposing of residential property. 30 days to pay… From April 2020, HMRC propose that when a residential or rental property

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