Welcome to the February 2016 edition of WHIB.
When the Chancellor announced in the Autumn Statement that there was to be an additional Stamp Duty charge for the purchase of second properties, no-one can have envisaged the apparent extent of the new charge. Our leading article looks at the Consultation document and its implications.
We also look at new draft legislation on the Residence Nil Rate band and downsizing and discuss how it will potentially affect you and your clients.
Our experts consider the tougher attitude of HMRC towards imposing penalties for unsubstantiated inheritance tax relief claims and this month’s case report is about capital gains tax multiple property elections. We also answer some frequently asked questions about divorce.
Finally, we were delighted to welcome Anne Minihane to our Bristol team recently and our Focus section this month features Anne and her career.