All articles by Patrick Cannon
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ProfessionalTax tide turning too far with HMRC's draconian penalties
Most readers of these pages will have heard of HMRC’s recently announced plans to get direct recovery of tax debts from taxpayer’s bank accounts without troubling the courts.
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ProfessionalRevenue’s latest stamp duty ‘guidance’ is hardly a favour
Revenue and Customs issued guidance late last year on the circumstances in which it would not charge stamp duty land tax on the transfer of high-value residential properties out of companies to their shareholders to avoid the annual tax on enveloped dwellings - so named as the asset sits within ...
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ProfessionalChancellor will struggle to tax overseas homeowners
Based on a single report from Sky News at the end of last month — which cited no source — there has been mounting speculation that the chancellor is “actively investigating” the extension of capital gains tax to non-resident owners of UK residential property.
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ProfessionalNightmarish new rules mean no escape from subsale tax
After nearly 10 years of stamp duty land tax being in place, Revenue and Customs has finally got round to changing the rules for subsale relief to prevent property buyers from avoiding their liabilities.
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ProfessionalVardy verdict leaves more questions than answers
Revenue and Customs has won at the First Tier Tribunal in the stamp duty land tax (SDLT) avoidance case of Vardy Properties and Vardy Properties (Teesside) v Revenue and Customs.
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ProfessionalProtect yourself from pressure of stamp duty changes
Property solicitors have had a lot to contend with lately on the stamp duty land tax (SDLT) front, particularly those whose clients have asked them about ways to save on this particular tax.
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ProfessionalOne tax rule for rich overseas buyers — another for the rest of us
There seems to be one rule for certain taxpayers — such as large corporates indulging in aggressive tax avoidance schemes — and another much stricter rule for the rest of us.
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ProfessionalNever a borrower and lender's solicitor be, says Patrick Cannon
The Solicitors Regulation Authority (SRA) has recently published its “Draft supervision and enforcement strategy for conveyancing”, which it plans to finalise in October this year. This paper explains how the SRA will deal with – or as the paper puts it, “engage with” – solicitors whose conveyancing work is in ...
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ProfessionalNow stamp duty land tax avoidance is not as easy as ABC
Revenue and Customs has lost the first case involving a stamp duty land tax (SDLT) avoidance scheme to come before the tax tribunal
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ProfessionalTax regime bites into holiday and luxury homes, says Patrick Cannon
There are two important property tax changes set to occur next year and property professionals will need to keep abreast of them in order to advise clients
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Professional
The emergency Budget encourages property to look ahead, says Patrick Cannon
The property industry fared better than expected from last month’s emergency Budget, although the promise of a second finance bill in autumn may mean more tax rises.
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Professional
Professional Opinion: Patrick Cannon
Revised penalties are a concession to taxpayers whose agents slip up
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ProfessionalVAT savings schemes are still alive and kicking …
… but require meticulous planning, says Patrick Cannon
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ProfessionalHow should we value adherent goodwill?
Valuers and other professionals cannot agree on a method, says Patrick Cannon
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ProfessionalLoophole botch will lead to bloody battle
Feelings are running high over punitive backdated tax
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ProfessionalMaking transfers less taxing
If you are shedding your assets, Patrick Cannon has advice on how to avoid paying that extra 4%
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ProfessionalDarling gives with one hand and takes with the other
This year’s Budget threw out a mixed bag for property, says Patrick Cannon
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ProfessionalA feeble assault on land-rich vehicles
Commercial property may be next after tax crackdown on residential, says Patrick Cannon
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Professional
My growing concerns over Revenue’s approach to VAT
Taxpayers are being unfairly hounded over sales as going concerns
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Professional
Capital allowance clawbacks will hit retail and leisure
Gordon Brown’s Corporation Tax cut looks set to be paid for by shops and hotels, says Patrick Cannon
