All posts in tax

Spring Budget 2021

2nd March 2021 by Healys

What can we expect from the Chancellor’s budget announcement tomorrow?

2nd March 2021 Healys 0 Comments Commercial property blog posts, Conveyancing blog posts, Employment law blog posts, Insights, Leasehold Services News, Private client blog posts, Private Wealth, Property disputes blog posts, Residential property blog, tax

Couple Overturns Tax Authority Decision for £6 Million Loss

14th May 2020 by Healys

HM Revenue and Customs (HMRC) may appear a very daunting battalion, but with the right legal advice, individuals can succeed in overturning their decisions. Recently, a couple succeeded in doing so. Continue reading →

14th May 2020 Healys 0 Comments Insights, tax

Off-Plan Flat Buyer Wins Full CGT Relief in Test Case

4th March 2020 by Healys

Does the buyer of a property ‘own’ it after contracts are exchanged but before the transaction is completed? The Court of Appeal’s answer to that fundamental question delivered a substantial Capital Gains Tax (CGT) saving to an off-plan flat buyer. Continue reading →

4th March 2020 Healys 0 Comments Insights, Property disputes blog posts, Residential property blog, tax

What Defines a Farmer? Landowner’s Heirs Win Inheritance Tax Appeal

27th February 2020 by Healys

What exactly is a ‘farmer’? and what exactly is a ‘farmhouse’? In answering those questions, the First-tier Tribunal (FTT) gave important guidance to the agricultural community and delivered a substantial Inheritance Tax (IHT) saving to the heirs of a deceased landowner. Continue reading →

27th February 2020 Healys 0 Comments Insights, tax

Judicial Authority Concludes That Cryptoassets Are Property

24th February 2020 by Healys

The legal position of ‘cryptoassets’ has not been certain in the past. However, a recent legal statement by the Chancellor of the England and Wales High Court has confirmed that they are to be treated like all other property. Continue reading →

24th February 2020 Healys 0 Comments Insights, tax

close up of calculator and pen on top of a piece of paper

Failing to Keep Accurate Accounts Raises Concern for Tax Authorities

7th February 2020 by Healys

Failing to take professional advice and keep accurate accounts makes you more liable to face repercussions from HM Revenue and Customs. In a case on point, an international businessman who claimed to keep details of his income and expenditure ‘in his brain’ was landed with a £40,000 tax bill. Continue reading →

7th February 2020 Healys 0 Comments Insights, Private Wealth, tax

Woman using laptop while writing on notepad

Employee or Contractor? Broadcast Journalist Receives £400,000 Tax Bill

3rd February 2020 by Healys

Establishing a company to act as an intermediary between yourself and your clients can have substantial tax advantages. However, such arrangements are pointless if the underlying relationship is, in substance, one of employment, as shown in a case involving a broadcast journalist. Continue reading →

3rd February 2020 Healys 0 Comments Insights, tax

Renting Vacant Offices to the Homeless Yields Great Tax Advantage

28th January 2020 by Healys

Renting out rooms in empty office blocks to those in need of a home is becoming commonplace, but what impact do these arrangements have on non-domestic rates liabilities? A tribunal’s answer to that question delivered a multi-million-pound tax saving to a commercial property owner. Continue reading →

28th January 2020 Healys 0 Comments Commercial property blog posts, Insights, tax

Corporate Conundrums And Other Challenges For Property Investors Into The UK

9th December 2014 by Healys

Foreigners who are purchasing high value properties in the UK, particularly in London, are exposed in greater measure to inheritance tax, particularly if the properties have future growth potential. Continue reading →

9th December 2014 Healys 0 Comments Conveyancing blog posts, Insights, Private client blog posts, Residential property blog, tax

Reformed Stamp Duty Land Tax – A disguised Mansion Tax?

5th December 2014 by Healys

Stamp Duty Land Tax (‘SDLT’) on residential properties has historically operated on a ‘slab’ system, meaning that a single rate of tax was charged on the whole amount of the transfer price, depending upon the rate applicable within the relevant charging band. Continue reading →

5th December 2014 Healys 0 Comments Conveyancing blog posts, Insights, Private client blog posts, Residential property blog, tax