The Property Planet

Simon Howley ATT (Fellow), CTA, ATA, AFA, MIPA and Amanda Perrotton LLB TEP Solicitor

A podcast by Bell Howley Perrotton LLP, focusing on the taxation and legal issues surrounding property investments, property development and property transactions in the UK.

  1. 05/01/2024

    VAT update with Jane Deeks

    Send us a text We are delighted to welcome back Jane Deeks for this episode for an overview of what you should be looking out for on any given transaction. The budget saw an increased VAT registration threshold to £90k.  Watch out for the running 12 month totals; make sure you comply with the 'look forward test'; recovery of VAT on a development; criteria for VAT registration, need to make taxable supplies and much more. Oh and by the way what are taxable supplies and what is exempt from VAT. We look at the reliefs that are available? Is it always a flat 20% or what can VAT to the reduced rate of 5%.  For example 'empty homes condition' is looking at what are the criteria to get within the relief, before you commence  development. What is the difference between zero rated and an exempt supply and how do various scenarios the impact of this? Giving us an example of partial exemption in simple terms - a fish and chip shop with a flat above.  For VAT purposes everything comes under the same VAT number.  Apportionments are required between the taxable supplies for the fish and chip shop and the income that relates to the exempt supply of renting out the flat.  Confused - then listen on. Jane runs us through the latest VAT cases and updates. An episode not to be missed that simply highlights the importance of taking expert advice. As always, if you have any questions related to Stamp Duty Land Tax or wider tax and legal questions involved with property transactions, please send us an email to enquiries@bhptax.law and we'll gladly get back to you. For more information about Bell Howley Perrotton LLP go to our website https://www.bellhowleyperrotton.co.uk/ To get in touch with Simon or Amanda their contact details can be found here Team (bellhowleyperrotton.co.uk)

    35 min
  2. 03/28/2024

    Budget Changes to MDR, SDLT Update and Recent Tribunal Cases

    Send us a text In this podcast episode, we are once again joined by Patrick Cannon, Barrister, and a recognised expert on all things SDLT, for an industry update on SDLT and how the abolition of MDR in the recent budget will have an affect on the market. In this episode we discuss the recent budget changes and tax tribunal cases relating to claims for Multiple Dwellings Relief for SDLT, and what is likely and unlikely to succeed; should HMRC challenge a claim. As always Patrick's strong tax knowledge and approachable manner, makes him a Property Planet favourite, providing comment and insight in a clear and understandable way.  A new ‘Industry Recognised’ Property Planet episode will be uploaded each month and if you have any burning questions or queries regarding any tax or legal topic surrounding UK property, then we would love you to send them in to us at enquiries@bhptax.law, marked 'Property Planet' and we will try and include them in the next podcast.  Link to the research material referred to in this podcast include: https://www.gov.uk/government/publications/stamp-duty-land-tax-relief-for-multiple-dwellings-evaluation/stamp-duty-land-tax-relief-for-multiple-dwellings-process-evaluation-quantitative-findings-executive-summary As always, if you have any questions related to Stamp Duty Land Tax or wider tax and legal questions involved with property transactions, please send us an email to enquiries@bhptax.law and we'll gladly get back to you. For more information about Bell Howley Perrotton LLP go to our website https://www.bellhowleyperrotton.co.uk/ To get in touch with Simon or Amanda their contact details can be found here Team (bellhowleyperrotton.co.uk)

    47 min
  3. 03/05/2024

    DOTAS numbers, Regulating Promoters and Protecting Landlords

    Send us a text Following an illustrious career spanning 45 years with previous roles at HMRC, PwC, Pinsent Masons and now with JHA LLP we are delighted to be joined by Ray McCann for this episode, where we discuss regulation of tax advisers and who can call themselves a tax adviser, promoters and DOTAS numbers. Highlights of the episode include: What is a DOTAS number and why was DOTAS introduced in 2004What is an in-house arrangementRoll forward to 2024 and the requirements to disclose promoted schemesIn the light of Spotlight 63 Property 118 have now obtained a DOTAS number for their protected scheme.  Is this the stamp of approval from HMRC or something far more serious that Landlords need to  be wary of?What should you be doing now?How we can provide you with a detailed review of your circumstances and provide you with technical and tax advice on putting you back into a regularised tax position.How we can engage directly with HMRC on your behalf to reach a final resolution so that you can move on with your business and your life.How we can then provide structuring advice for your future. As always, if you have any questions related to Stamp Duty Land Tax or wider tax and legal questions involved with property transactions, please send us an email to enquiries@bhptax.law and we'll gladly get back to you. For more information about Bell Howley Perrotton LLP go to our website https://www.bellhowleyperrotton.co.uk/ To get in touch with Simon or Amanda their contact details can be found here Team (bellhowleyperrotton.co.uk)

    47 min
  4. 02/06/2024

    HMRC is not going away. The passing deadline, Spotlight 63 and what to do next.

    Send us a text The 31st January 2024 HMRC deadline may have passed as set out in Spotlight 63,  but our phone lines and inboxes remain open for affected landlords to contact us who are looking for independent advice. SKS Baily Group made a blanket disclosure within the deadline which means that HMRC now have all the names of addresses of Landlords who have been part of their schemes. OCG accountants have written to all Less Tax For Landlords Clients to confirm that the Barrister they have instructed is acting in their best interests so who is acting in the Clients best interests? In this episode we  discuss with Elysium Law  how with a two pronged approach we can help. How you need to register now with Elysium Law as part of the negligence and breach of contract actions for losses that you have incurred as a result of the failed planning.How we can provide you with a detailed review of your circumstances and provide you with technical and tax advice on putting you back into a regularised tax position.What you should be doing now.How we can engage directly with HMRC on your behalf to reach a final resolution so that you can move on with your business and your life.How we can then provide structuring advice for your future. To read more from Elysium Law on the stance taken by OCG Accountants approach follow this link https://elysium-law.com/news/ocg-accountants-their-advice-to-do-nothing/ To contact Ruby Keeler- Williams email her at Ruby.Keelerwilliams@elysium-law.com To contact Richard Gray email him on Richard.Gray@elysium-law.com As always, if you have any questions related to Stamp Duty Land Tax or wider tax and legal questions involved with property transactions, please send us an email to enquiries@bhptax.law and we'll gladly get back to you. For more information about Bell Howley Perrotton LLP go to our website https://www.bellhowleyperrotton.co.uk/ To get in touch with Simon or Amanda their contact details can be found here Team (bellhowleyperrotton.co.uk)

    32 min

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A podcast by Bell Howley Perrotton LLP, focusing on the taxation and legal issues surrounding property investments, property development and property transactions in the UK.