Chancellor Widens ATED Tax Net in Budget 2014

The Chancellor in his 2014 Budget has announced an extension of the Annual Tax on Enveloped Dwellings (“ATED”). ATED imposes an annual tax charge on residential property worth £2m or more held within corporates. The Chancellor has announced the charge is to be extended to a broader range of residential property, so that as of…

Chancellor Cuts PPR Relief Period in Autumn Statement

While measures designed to ensure non-UK residents paid CGT on the sale of residential property were widely trailed in the media prior to today’s Autumn Statement, another measure that will affect many vendors also slipped by relatively unnoticed. Today the Chancellor announced HM Government’s intention to cut in half the final period exemption for Principal…