VAT On Commercial Property: What You Need to Know
Standard rate of VAT, currently 20%, is typically applied to commercial property transactions when the seller has opted to tax, or when new commercial properties are being sold or leased.
James Faiers v HMRC: SDLT Property Classification & It’s Implications
In the case of James Faiers v HMRC, the Upper Tribunal Tax ruled that despite a commercial electricity network on the property, the residential classification for Stamp Duty Land Tax (SDLT) applied. This decision underscores the importance of assessing the...
Council Tax on Commercial Property- A Complete Guide
Business rates, a local tax on non-domestic properties, vary based on rateable value, reflecting rental estimates. Relief schemes exist for small businesses and specific sectors, while exemptions apply to farm buildings. Seeking professional advice from organizations like RICS helps navigate...
Commercial Property Service Charge Accounts
This article provides a comprehensive overview of the taxation of rental income in the UK, covering the calculation of tax for individual landlords, changes in interest relief, reporting requirements to HMRC, and the specific considerations for limited companies and serviced...
Commercial Property Standard Enquiries on Capital Allowance | CPSE
Learn about Commercial Property Standard Enquiry and what exactly it covers.
Capital Allowances on Property – A Complete Guide
Learn about Capital Allowances and how you can stop worrying about paying hefty taxes on your property business profits.
