Lease Variation and Lease Surrender
Tax implications in lease variations hinge on who pays whom. Lessee payment for a favorable variation is capital expenditure, while lessor payment for lease surrender is a premium, with tax nuances based on lease terms. Reverse lease surrender yields lessee...
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...
Understanding Trusts in the UK
Trusts are crucial in UK financial planning, featuring various types like discretionary, interest in possession, and charitable trusts. Establishing a trust involves selecting a type, legal consultation, drafting, asset transfer, and ongoing management, offering versatile financial tools for security and...
