Specialist Tax Regulatory Materials
The higher residential rates of land transaction tax (LTT) apply where the buyer already owns one or more residential properties. If the buyer replaces their main residence and sells their previous main residence within three years of buying their new main residence, the buyer can claim a refund of the higher rates element of the LTT paid.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Foreign tax reliefIncome and gains may be taxable in more than one country. The UK has three ways of ensuring that the individual does not bear a double burden:1)treaty tax relief may reduce or eliminate the double tax2)if there is no treaty, the individual can claim 鈥榰nilateral鈥� relief by deducting
Ministers of religionMost ministers of religion or members of the clergy are either office-holders or employees and so their earnings are taxable under ITEPA 2003 as employment income and are subject to Class 1 National Insurance.For the purposes of the tax system, a minister does not have to belong
Furnished holiday letsThis guidance note sets out the qualifying conditions for a property let to be treated as a furnished holiday let (FHL) for tax purposes and the subsequent tax implications.Whether or not a property qualifies as an FHL can make an important difference to the taxation
Tax Returns