News & Blog

The latest press releases and opinion from Bishop Fleming

ATED – time to revalue your company’s residential dwellings

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If your company or partnership owns a residential dwelling, you may be affected by ATED. In which case, you need to update the value of your property to avoid potential penalties. For the last 4…

Developers – structuring developments post Finance Act 2016

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Developers need to be aware of recent property tax changes when looking to structure their projects. Paul Morris takes a look at what developers can do. Liquidations Changes to the tax rules on liquidations in…

New SDLT and ATED reliefs for companies

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When the 15% flat rate charge to Stamp Duty Land Tax (SDLT) was brought in for companies buying higher value residential properties, it was accompanied by a number of reliefs, the intention being that the…

Business rates set to fall next year

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The next business rates revaluation of all properties is due to take effect from 1 April 2017. The South West is set to benefit from rate reductions of 14% for the retail sector, 10% for…

Companies To Be Hit By Extra Property Tax

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Huge tax rises are set to hit property companies next year. Recent tax changes combined with rising property values will allow the government to grab more tax from companies that have interests in houses and…

VAT on Property Conversions without planning consent

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Recent government changes allow certain property conversions from business to residential use without formal planning consent, instead relying on “permitted development rights” or PDR. This can cause VAT problems, as certain provisions allowing a contractor…

People with Significant Control Register (PSC Register) – Q&A’s

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What is the People with Significant Control Register (PSC Register)? From 6 April 2016, UK Companies and Limited Liability Partnerships are required to maintain a PSC register and investigate any potential PSC’s who may require…

Budget 2016: Stamp Duty on property

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Stamp Duty Land Tax (SDLT) on commercial property has been reformed in the 2016 Budget. There are winners and losers in the new regime. Following changes last year to SDLT on residential property, the Chancellor…

Online filing of CIS returns from April

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From April 2016 Construction Industry Scheme (CIS) returns must be filed online as a legal requirement. This further push by the government towards making tax digital will see paper filing of CIS returns disappear for…

Property VAT pitfalls – 5

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Five ways to lose a fortune in VAT This is the last in our series of five blogs warning of common pitfalls in property VAT transactions. I have covered: the capital goods scheme and unexpected…