Property Tax Planning

Property Tax Planning cover


Now in its 17th Edition, this book has been updated to cover the many significant changes to the tax treatment of UK property in recent years.

The book is divided into the four categories of property ownership: property investors; property dealers and developers; trading premises and private residences. Within each category all relevant tax planning areas are outlined chapter by chapter, with reference to legislation and case law.

This new edition is updated to include:

- Further details in relation to the unified immoveable property regime for non-resident landlords and changes to the rules for overseas corporate landlords of UK property and their tax obligations in respect of UK rental income.
- Changes to rules relating to withholding tax on payments of interest and royalties made to EU resident associated companies following Brexit.
- Changes to SDLT rates and Multiple Dwellings Relief consultation.
- Updates to the capital allowances legislation, including 'full expensing' from 1 April 2023 and new rules in respect of capital allowance eligibility for plant and machinery for use primarily within a freeport or investment zone tax site following the UK's departure from the EU
- Changes to the capital gains tax compliance for non-corporate taxpayers disposing of UK land.
- Updates to the VAT Option to Tax notification process.
- The Construction Industry Scheme (CIS) rules including changes to the CIS penalty regime and HMRC's increasing powers to amend unsupported CIS deductions on a real time basis.
- Details of the domestic reverse charge rules for building work.
- Changes to the conditions for Business Asset Disposal Relief.
- Changes to Principal Private Residence relief rules, including final exempt period of ownership and lettings relief.
- Updates to HMRC's guidance on what constitutes an unallowable purpose for loan relationship purposes

A digital version of this title is available as part of our online tax resources. Contact our sales team to ask about access - [email protected]

Table of Contents

Part A Property Investors
1. Acquisition of a property through a non-UK resident company
2. Property ownership through a non-UK resident trust
3A. Relief for finance costs incurred by individuals, trustees and non-UK resident investment companies
3B. Finance costs for UK property investment companies or companies within the scope of UK corporation tax
4. Repairs, renewals and improvements
5. Stamp duty land tax
6. Capital allowances on plant and machinery
7. Other allowances
8. Holding investment property through a company
9. Premiums received
10. Letting as a trade
11. Capital gains planning: properties held at 31 March 1982
12. Capital gains planning: the indexation allowance
13. Capital gains planning: deferring a sale
14. Capital gains planning: selling the company rather than the property and the further possibility of selling to a UK REIT
15. Enterprise Investment Scheme deferral relief and Seed EIS CGT Exemption
16. Planning for losses: capital losses and surplus management expenses
17. Planning for losses: transfer of investment property to a dealing company
18. VAT planning for property investors

Part B Property Dealers and Developers
19. Tax relief for reductions in property values
20. Reclassification of trading stock as investment property
21. Tax planning on the transfer of trading stock
22. Tax relief for finance costs
23. Acquiring a trading company with tax losses
24. Selling shares in a property trading company and anti-avoidance provisions
25. Construction Industry Scheme
26. VAT points for property developers

Part C Trading Premises
27. Premium relief on the acquisition of a short lease
28. Tax relief for finance costs
29. Capital allowances on plant and machinery
30. Capital gains planning: replacement of business assets ('roll-over') relief
31. Capital gains tax planning: entrepreneurs' and investors' reliefs for individuals and trusts
32. Capital gains planning for companies: exemption for sales of substantial shareholdings
33. Tax-free statutory compensation
34. Construction Industry Scheme
35. VAT and trading premises

Part D Private Residences
36. The capital gains tax, ATED and SDLT regimes for residential property
37. Motive for acquisition of a residence
38. Main residence election where more than one property is owned
39. Land and buildings included with a residence – maximising the exemption
40. Converting, reconstructing or refurbishing a main residence
41. Main residence: taking advantage of the exemption for the last 18 months of ownership
42. Temporary absences: preserving the exemption
43. Taking advantage of the exemption on let property
44. Main residences: periods before 31 March 1982
45. Rent a room: income tax exemption on part letting of a main residence
46. Expense deductions for business use of home

Product details

Published 29 Feb 2024
Format Paperback
Edition 17th
Extent 456
ISBN 9781526526250
Imprint Bloomsbury Professional
Dimensions 234 x 156 mm
Publisher Bloomsbury Publishing

About the contributors


Zeeshan Khilji

Zeeshan Khilji is Managing Director of the Tax Con…