Covid-19 guidance for residential landlords & tenants
The Government updated its guidance for landlords and tenants on 21 June 2021 in regards to rent, mortgage and possession proceedings. The Coronavirus Act 2020 gave protection to social and private tenants by delaying when landlords can evict tenants if their rent is in arrears. Read full article
Domestic reverse charge
The DRC is now in force and many in the construction industry are feeling the pressure. Our experience is that our clients have had difficulty receiving invoices in the correct format and a general misunderstanding of the rules. Read full article
| Residential Property Developer Tax ("RDPT") Earlier in the year the Government announced a potential new tax on residential property developers. The aim of the tax is to assist the Treasury with remediation works to unsafe cladding. Consultation concludes on 22 July 2021 and further details will be issued in due course. Read full article | Stamp Duty Land Tax ("SDLT") Temporary Rates The SDLT ‘holiday’ rates for residential property purchases were extended to 30 September 2021, however, new rates apply to purchases which complete between 1 July 2021 – 30 September 2021. Read full article |
| Conversion of commercial properties As a direct result of the COVID-19 pandemic a significant number of companies workforces have vacated their offices to work from home. Some business models have been altered to allow working from home to continue once restrictions are lifted. Read full article | Extended loss carry back for businesses The construction industry is experiencing an increase in costs due to delays caused by COVID and an increase in the price of materials resulting from Brexit. Companies may incur trading losses and a temporary extension to the loss carry back rules has been proposed for corporate and unincorporated businesses. Read full article |
Assistance
Navigating around the different taxes can be a difficult task. If you would like to discuss your current situation or find out more information about one of the topics mentioned above, please contact one of our team who will be happy to assist you.