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Property Taxes 2020/2021

Author: Robert Maas FCA FTII FIIT TEP

Publication Date: September 2020

Publisher: Bloomsbury Professional

Law As Stated At: August 2020

Property Taxes 2020/2021

Property Taxes 2020/2021

This essential annual title provides clear advice and information covering all elements of the taxation provisions relating to land transactions.

Property Taxes 2020/21 enables tax practitioners to find the answers to their tax planning questions quickly and to keep their clients’ tax liabilities to a minimum.

This fully updated new edition features comprehensive analysis of the property tax changes in FA 2020 and takes into account the following recent developments:

  • The detailed rules on the Structures and Buildings Allowance (11.201)
  • The switch of non-resident landlord companies from income tax to corporation tax (15.15)
  • The VAT reverse charge on construction services (17.103)
  • The refocusing of the VAT 5% rate for the installation of energy-saving materials (16.156)
  • The proposed 2% non-resident SDLT surcharge (19.68).

New cases include:

  • the Court of Appeal decision on Fortyseven Park Street Ltd’s version of timeshare (17.98)
  • the CJEC decision in Mydibel SA (16.147 and 17.234) and the Court of Session decision in Balhousie Holdings Ltd (16.148) which together have created confusion on the VAT treatment of sale and leaseback
  • the FTT decision in Landlinx Estates Ltd (16.332) where HMRC told the tribunal that they had changed their view in relation to VAT on land options and the FTT endorsed their old view
  • the FTT decision in Leeds Cricket, Football and Athletic Co Ltd (23.206) which casts doubt on HMRC’s stance on goodwill in trade-related properties
  • a flurry of cases on the extent of a residence for SDLT (Hyman (19.85), Goodfellow (19.86) and Myles-Till (19.87)).