Tax Notes Update – Why you should read the tax legislation (and other news)

 Miscellaneous, Statutory Interpretation  Comments Off on Tax Notes Update – Why you should read the tax legislation (and other news)
May 212015
 

My article on the new rules for VCTs – Venture Capital Trusts – have they become riskier? – has been published by online magazine Which Investment Trust. Hooray!

It always gives me special pleasure to see one of my articles published by someone else, rather than just on my own site. It means that someone else actually likes my articles enough to consider them worth publishing!

And I must say at this point that it is a real pleasure also to be working with Dice McCairn, the editor of Which Investment Trust. Dice contacted me via the Tax Notes Contact page and suggested I contribute to his site. I have found him to be very professional and efficient, always returning my emails promptly – a real Godsend compared to some of the editors I have worked with in the past. Continue reading »

Lease Premiums – capital or income? – a statutory interlude

 CGT, Income Tax, Property Tax, Statutory Interpretation  Comments Off on Lease Premiums – capital or income? – a statutory interlude
Nov 132013
 

The following is a statutory analysis of the position when a lease of land is granted for a premium. We have already seen how this works in previous articles on the Lease Premium Rules. The first article was about how the rules operate to modify the capital gains treatment of the landlord, and the second article concerned how the landlord could use these rules to his advantage in claiming tax relief for the property.

However, these two articles raise some important questions concerning the nature of the premium and how it is taxed. Why should a landlord receiving a premium be taxed under the capital gains legislation, and a property trader be taxed under the income tax rules? More importantly:

“How does this result come about under the legislation?”

We shall discuss this more fully below. Continue reading »