Services & Teams Services for Law Firms Property Law Advisory Service Taxation

Our taxation advice focuses on property related matters for both individual and business clients.

We advise on all of the main property taxes. These are listed below. Stamp duty is generally now only an issue where we use companies to sell property and stamp duty at 0.5%, as opposed to the top rate of SDLT of 4%, is charged on the share transfer. That is in fact still one of the most effective tax planning measures. The Government has in fact spent a great deal of time trying to crack down on tax avoidance and there is no reason to think that this crackdown will end anytime soon. SDLT was in fact introduced simply as a means to reduce tax avoidance. Our taxation advice ensures that not only is the deal structured in the most tax efficient way but all of the reporting requirements are met.

Tax planning should though never be the tail that wags the proverbial dog. That is why we work as a team combining our property, corporate and tax knowledge whilst liaising closely with the client.

Added to this we are keeping a watching brief on the new pension rules and the possible introduction of some form of planning gain supplement. It is already clear that the new pension rules which are scheduled for April 2006 will have a major affect on the property market. It is though likely that the Chancellor may amend the rules so that the placing of residential property in a SIPP (“self invested personal pension”) becomes less attractive. The planning gain supplement is likely to be announced in this year’s pre-Budget Report which is likely to be given around late November. That again is likely to receive a great deal of publicity.

The new construction industry scheme rules are also meant to be implemented in April 2006. That said the unresolved IT issues may result in a further delay of the implementation of these rules.

	Stamp Duty Land Tax (SDLT)
	Stamp Duty
	Value Added Tax (VAT)
	Capital Gains Tax (corporation tax for companies)
	Capital Allowances