PROPERTY TAX NEWS
Accountancy firm Rawlinson & Hunter LLP won three prestigious awards – Accountancy Firm of the Year, Tax Advisory Firm of the Year, and Trust Company of the Year – at last night’s annual Citywealth Magic Circle awards in London, warding off stiff competition from strong rival teams
Since the introduction of the 3% stamp duty surcharge for the purchase of additional residential properties in April 2016, it has become almost impossible for many ordinary buyers to compute the correct amount of stamp duty to pay when purchasing a property.
This is because there are now four different stamp duty regimes that apply to the purchase of residential properties, and the 3% surcharge in particular has wide application to many buyers who have no inkling that the surcharge could apply to them.
Andrew Shilling and Karen Doe recently hosted a seminar in the City Of London covering current property tax issues. Matters discussed included the 3% stamp duty surcharge that is payable on second homes and buy to let investments; the VAT treatment of residential property alterations, and a number of case studies on property owners who had overpaid their stamp duty liabilities and were able to claim a refund. Their presentation slides can be downloaded here.