Course description
Overview
This course introduces delegates to the tax effects of acquiring, holding and disposing of UK property.
It covers income tax, corporation tax – including Capital Allowances, CGT, VAT and SDLT.
Who is this for?
This course will be of benefit to newly qualified solicitors, paralegals, legal executives, trainees, and solicitors who specialise in other areas of law but who would like an overview of the tax issues which typically arise on UK real estate transactions.
It is also appropriate for accountants and others who wish to gain a working knowledge of property taxation.
What you will learn
- Property business – trading or investment?
- UK v overseas portfolios
- Buy To Lets v Furnished Holiday Lets
- The case for incorporation of property portfolios
- Revenue or capital, including capital allowances?
- Rent a room relief (RAR)
- Spousal sharing of income
- CGT issues on property disposals, including 60 day reporting
- Stamp taxes - a few thoughts
- ATED – a couple of points
- Some IHT issues to consider for property
- VAT in construction and property
PSC Elective
This course may be taken as a PSC elective, although it may also be attended by non-trainees.
SRA Competence
B
Other related courses
Construction & Infrastructure Law
Freehold Easements & Covenants - A Practical Guide
Introducing Commercial Conveyancing - Including Business Leases
Introducing Leasehold Conveyancing - Including Residential Leases
The Essentials of Planning Law
Understanding Commercial Leases (2 Day)
Corporation Tax Refresher & Update
Income Tax Refresher & Update
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Upcoming start dates
Suitability - Who should attend?
This course will be of benefit to newly qualified solicitors, paralegals, legal executives, trainees, and solicitors who specialise in other areas of law but who would like an overview of the tax issues which typically arise on UK real estate transactions. It is also appropriate for accountants and others who wish to gain a working knowledge of property taxation.
Training Course Content
Learning outcomes include a greater understanding of:
- Property business – trading or investment?
- Property expenditure – revenue or capital?
- Capital allowances on expenditure on buildings.
- Capital gains tax on disposals.
- Value added tax – exemption and the option to tax.
- VAT and transfer of a going concern.
- The VAT capital goods scheme.
- Stamp duty land tax charge.
- Anti avoidance basics.