Since the General Election, investment property has been hit with a series of measures designed to increase the tax take from property income.
This course looks at the impact of the changes as a result of
- The restrictions in mortgage tax relief
- The new rules on dividends
- The increasing charge on enveloped dwellings
- Capital Gains Tax on non-residence
- Abolition of wear-and-tear allowance
- The new family home allowance for IHT
- The new 3% surcharge on stamp duty land tax on buy to let properties
- The new rules making all UK properties subject to Inheritance Tax
- Use of REITS
- The revival of Furnished Holiday Lettings
It is clear that property is bearing the brunt of the tax increases as it is not included in the triple-lock which stop tax rises which is effective for this parliament.
These tax rises should encourage a rethink in property tax strategies. The course looks at traditional property tax strategies and sees how they should be adapted for the new circumstances.
In particular, the course will look at incorporation relief and its relevance to property businesses.