Draft Finance Bill 2013: Implications for high-value UK residential property

The publication last month of the draft clauses to be included in the Finance Bill 2013 due to come into force this April confirmed the measures proposed for the taxation of high value residential property in the 2012 Budget.

The new measures include: proposed relief from the 15% Stamp Duty Land Tax (SDLT) rate for genuine commercial landlords, property developers and certain other properties, to come into effect from July 2013;an Annual Residential Property Tax (ARPT) for certain non-natural persons (namely companies, partnerships with company members and collective investment schemes) that own high-value residential property; a new 28% Capital Gains Tax charge for non-resident, non-natural persons who own property valued at over £2 million; changes to the SDLT rules on transfers of rights (i.e. sub-sales) and certain lease arrangements…

If you are registered and logged in to the site, click on the link below to read the rest of the Goodman Derrick briefing. If not, please register or sign in with your details below.

Click on the link above to download the briefing.

News from The Lawyer

Briefings from Goodman Derrick

  • Relief from sanctions

    The Court of Appeal delivers an important decision in the turbulent area of relief from sanctions for non-compliance with court rules or orders.

  • Intestacy rules: change on the horizon

    The Inheritance and Trustees’ Power Bill received royal assent on 14 May to become the Inheritance and Trustees’ Power Act 2014.

View more briefings from Goodman Derrick

Analysis from The Lawyer

View more analysis from The Lawyer

Overview

10 St Bride Street
London
EC4A 4AD
UK
http://www.gdlaw.co.uk

Turnover (£m): 11.40
No. of Lawyers: 45