ASIA ADVISORY SERVICES GROUP | BDO PRIVATE CLIENT SERVICES 12
TIMELINE OF UK PROPERTY TAX CHANGES
How up to date is your current advice? This is a dynamic area - use the timeline below to see if you need to get your advice updated.
MARCH X Companies in the
APRIL X 3% SDLT surcharge on residential property X ATED threshold reduced to £500,000 X Wear and tear allowance abolished Channel Islands and Isle of Man trading in UK land brought within the charge to UK tax X Reform of stamp duty land tax (SDLT) for commercial property.
APRIL X Election to rebase offshore assets to market value for non-domiciliaries acquiring a deemed UK domicile X Abolition of business premises renovation allowance X Corporation tax rate cut to 19% X Rebasing of ATED valuations X Restrictions of corporate interest deductions under BEPS 4 X Restriction of 25% of interest deductions for individual landlords to the basic rate X Inheritance tax (IHT) family home allowance X IHT charge on UK residential property owned by non‑resident companies.
APRIL X Non resident capital gains tax (NRCGT) charge on residential property X Diverted profits tax (DTP) X Annual tax on enveloped dwellings (ATED) threshold reduced to £1m X Corporation tax rate cut to 20%.
and replaced with relief for like-for- like replacement expenditure.
DECEMBER X First year ends of
companies required to adopt new UK GAAP including recognition of fair value movements on hedging instruments.
JULY X Transactions in land
APRIL X Restriction of 50% of
anti-avoidance rules for companies trading in UK land.
interest deductions for individual landlords to the basic rate.
2015
2016
2017
2018
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