Tag: tax

Chancellor’s Autumn Statement introduces increased SDLT rates for second homes and buy-to-let properties

From 1 April 2016, higher rates of SDLT (Stamp Duty Land Tax) will apply to the purchase of second homes and buy-to-let properties where the chargeable consideration exceeds £40,000 – as announced in the Chancellor’s Autumn Statement. What are the higher rates? The higher rates will be 3% above the current SDLT rates for residential property. …

Permanent Non-Dom Tax Status Abolished – New Deemed Domicile Rules

The dictionary definition of domicile is a place of residence. Legally, broadly speaking, it is an individual’s permanent home. The concept has applications in all areas of law, such as marriage, wills and succession. It is also widely used to determine an individual’s liability to various taxes in the UK. Domicile can be determined in …

Brexit Untangled: What do British and Non British individuals need to think about when leaving the UK?

Considering leaving the UK or emigrating? Below are four points your will need to consider: 1. Your UK estate If you have land or property in the UK you should have a Will which deals with that property. Ideally your UK Will should cover the entirety of your UK estate and should work in conjunction …