Category Archives: Stamp Duty

Finance Bill 2021: Details Published

The government has published the details of the Finance Bill 2021 on 11 March 2021. The Bill highlights the important law measures(announced in the recent 2021 Budget) set to come into legislation. Chancellor Rishi Sunak announced the following measures in his budget speech: an extension of the stamp duty holiday in England a super-deduction capital […]

Stamp Duty Land Tax (SDLT) holiday extended

Chancellor Rishi Sunak confirmed the extension of the stamp duty land tax (SDLT) holiday in Budget 2021. The government will extend the “temporary increase to the SDLT zero-rate band” for residential property in England and Northern Ireland to 30 June 2021. The zero-rate band will be £250,000 from 1 July 2021 until 30 September 2021. […]

Tariff free trade deal: Brexit

Just before Christmas, the U.K. and the EU have announced a historic agreement indicating tariff free trade deal. The agreement (termed a “Trade and Co-operation Agreement” (TCA)) meant how they’ll trade with one another after Brexit. TCA agreed between the UK and EU came into force at 11 pm on 31 December 2020. Why did […]

Tax Consequences on Gifted House

  If someone wants to gift a house to his children, he needs to consider the following tax consequences regarding the gifted house. Capital Gain Tax (CGT): There will be a Capital Gains Tax (CGT) and the proceeds will be deemed to be the market value of the property at the date of the gift. […]