Executors Lose BPR Appeal on Furnished Holiday Lets

The Court of Appeal has rejected, for the final time, the executors of Nicolette Pawson application for leave to appeal the Upper Tribunal‘s decision in HMRC v Pawson (deceased) [2013] UKUT 050 (TCC) that a let holiday cottage was held mainly as an investment and so did not qualify for business property relief (BPR) for…

ATED Filing Deadline

The first filing date for properties within the charge at 1 April 2013 is 1 October 2013 and payment must be made by 31 October 2013. A snappy précis on Annual tax on enveloped dwellings (ATED) prepared by Farrer & Co.

‘Squaring the Triangle’: Simplifying IHT charges on relevant property trusts

HMRC’s consultation on reforming the periodic and exit charges on relevant property trusts, ended in mid-August. The reaction among professionals appears to have been somewhat chilly. HMRC’s stated aim is to triangulate a solution that simplifies the compliance burden while being revenue neutral on the Exchequer and that complies with the overarching policy of ‘fairness’;…