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…

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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…

Marriage Transferable Tax Allowance – The Basics

The Government has recently announced that from April 2015 some married couples (including same and opposite sex) and civil partners will be eligible for a new Transferable Tax Allowance (TTA) for income tax:  What We Know Thus Far The TTA for married couples will enable spouses and civil partners to transfer a fixed amount of…