Andrew H

Thanks Neil.... Read More

Many thanks SAL.... Read More

Thanks Mark.... Read More

That was a stupid mistake on my part...

In England, what is the difference between a SAT and an AST?... Read More

Many thanks Mark.... Read More

Thanks Mark.

What I meant to refer to was sitting/regulated tenants.... Read More

Thanks Neil. Much appreciated.... Read More

That surely can't be the case? An annual charge of £3,500 on a £500,001 property would represent a huge proportion of annual rental profit - which will also be taxed at 20%. ??... Read More

Thanks for the overview Neil.

Can you please clarify whether ATED applies to properties which are tenanted by private (residential) tenants? Or does ATED only apply to vacant dwellings?

Many thanks,

Andrew... Read More

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Many thanks to both of you.

All the best.... Read More

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In real terms for the borrower, if LIBOR is effectively an exaggerated base rate (either way, up or down) are there any benefits of being on a LIBOR linked facility? And is it always advisable to opt for a base rate linked facility rather than LIBOR?

Thanks in advance.

Andrew... Read More

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Article from FT:

The government has expanded its clampdown on homeowners who buy their properties through a company, in the latest move to deter wealthy foreign house buyers.

George Osborne extended the annual tax on homes owned through offshore companies from properties worth over £2m to those worth more than £500,000.

The tax does not apply when a home is rented out, in an attempt to encourage overseas buyers not to leave their UK homes empty. Homes worth up to £1m will be charged £3,500 a year, while those worth over £1m will be charged £7,000 a year.

“Many of these are empty properties held in corporate envelopes to avoid stamp duty,” Mr Osborne said. “This abuse will end.” The annual tax has so far raised five times more than the government originally expected when it was first introduced, he said.

The chancellor has also increased the rate of stamp duty paid on the purchase of homes through companies, to cover homes worth £500,000 and over. The 7 per cent stamp duty rate previously only applied to those worth £2m and upwards.
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This would seem to suggest that I have misunderstood and that the tax relief relating to properties "rented out to tenants" is not a relief on SDLT but instead, the ANNUAL taxes charged to offshore companies holding UK property? Therefore, no SDLT relief for UK companies purchasing BTL property?... Read More

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