Property Investment 2022-23

This title leads the reader through the lifecycle of property ownership, from acquisition to eventual disposal. 

At each stage, the tax issues are clearly explained and illustrated, with worked examples throughout. The book will be invaluable for tax advisers with property-owning clients (and no doubt for many property owners themselves).

The various tax topics are addressed in depth, and are always fully rooted in the appropriate legislation and relevant case law. The writing style is accessible, and the emphasis throughout is on addressing the real tax issues that owners and their advisers have to grapple with.

Difficult issues, such as the complex tax rules for lease premiums and the sometimes grey areas around the division between revenue and capital expenditure, are addressed in depth.

“It sets out the tax issues to be considered at each stage of investment … All serious property investors, and their financial advisers and accountants, should read this book to understand the tax implications of investing in property.” – from the foreword by Rebecca Cave FCA, MBA, CTA

Contents (in brief)

• Introduction and overview
• Start-up issues – acquisition of rental assets
  • Ownership structures
  • Trading or investing?
  • Stamp taxes
  • VAT for landlords
• Operational phase – running the property portfolio
  • Taxation of rental profits
  • Interest relief
  • Capital allowances
  • Maintaining the property – the tax issues
  • The lease premium rules
  • The taxation of reverse premiums
  • The tax treatment of property losses
  • ATED for landlords
• Re-structuring and exit issues
  • Re-structuring and exit issues for landlord and tenant
  • Selling up – re-structuring and exit issues for the landlord.

New for this edition

The 2022-23 edition reflects all recent statutory and case law changes, with examples updated as necessary including the following:

• Introduction of long term asset funds.
• New case law decision in which an individual was held to be investing rather than trading.
• Proposals for change to SDLT on mixed-property purchases and multiple dwellings relief.
• No changes proposed to VAT on property following HMRC consultation.
• Building services for landlords – temporary zero rate.
• New case law concerning requirement to withhold tax on interest (re whether interest arises in the UK).
• Extension of higher annual investment allowance threshold to 31 March 2023.
• Amended time limit for SBA allowance statement.
• Capital allowances changes from 1 April 2023.
• Temporary zero rate for energy-saving materials.
• Extensive new commentary on change in HMRC policy re dilapidation payments.
• Amended deadline for non-resident landlords to submit CGT returns.
• Updated ATED rates.

VIEW FULL TABLE OF CONTENTS

VIEW SAMPLE EXTRACT