Dates                                                                  

9 December 2008
6 March 2009
26 August 2009
16 December 2009

Course Overview

This seminar will provide participants with an awareness of the tax consequences of owning commercial and investment property in the UK.

It will benefit those involved in advising commercial and individual clients on buying and selling properties by giving them an insight into the taxation of property transactions.

Course Content

 Taxation of rental income
Tax treatment of lease premiums
Taxation of reverse premiums and other incentives
Deductibility of interest and other expenses.

Capital allowances issues relating to property, including fixtures
in buildings and industrial buildings
Capital allowance changes proposed in Finance Act 2007
Phasing out of industrial buildings allowances
Fixtures within buildings
100% relief for business premises renovation

Capital gains issues
Business asset taper relief
Group property transfers

Tax treatment of Real Estate Investment Trusts (REITs)
The tax breaks available for REITs
Conditions for REIT approval
Taxation of REIT investors

Essential VAT for property businesses
Standard rated, zero rated, and exempt supplies
The “option to tax”
Capital Goods Scheme

An overview of stamp duty land tax
The basic charging provisions
Lease duty
Stamp duty land tax relief on group transfers

The proposed new planning gain supplement
The basis of the charge
Who will be liable
Timing of payments