The introduction of the 3% higher SDLT charge for second properties and the Residence Nil Rate Band (RNRB) makes tax planning with property interests even more complicated. This course aims to help sort the wood from the trees and guide you on some of the key tax issues for property owners.
- Starters: For each property: legal and beneficial ownership?
- Any beneficial interests not documented?
- Constructive or resulting trusts?
- Potential sticky issues: who is your client?
- Capacity to make gifts of property?
- Can we act for two cohabitees /co-owners? Separate advice?
- SDLT: An outline of some key issues with the new (1 April) SDLT charge from
- Problems arising in practice that affect property taxation planning.
- Tax issues with Gifts of property interests.
- Outright gifts, of whole or share of property, or gifts in trust;
- IHT: valuation principles for gifts & sales at undervalue
- Potential tax traps –Reservation of benefit- & POAT
- Sharing accommodation –main homes and holiday homes
- RNRB and Downsizing relief –how does this affect planning?
- CGT: Maximising Private Residence Relief, 2 or more homes and elections
- Income tax: joint ownership by spouses and Form 17 for unequal shares
- The beginning and end of home ownership: helping out children / parents
- Helping adult children buy property
- Gifts/arrangements for sharing with parents
- SDLT: how to work with the new 3% higher charge for second property interests.
Sponsored by HFS Milbourne
Speaker: John Bunker LLB. CTA TEP is a freelance lecturer, solicitor and chartered tax advisor, who is also Head of Private Client Knowledge Management of Irwin Mitchell LLP. Alongside this role responsible for technical development and training, to which he moved in 2012 after 23 years as a partner, specialising in wills, trusts, estate and tax planning, he has developed his external training work in a freelance capacity.
John brings his enthusiasm for his subject, where he seeks to illuminate technical details with practical insight, to training for CLT, MBL, SJ Live, individual firms, local law societies, branches of STEP, SFE and other professional groups. He serves on the Chartered Institute of Taxation’s Succession Taxes Sub-committee and HMRC’s Capital Taxes Liaison Group.
Cost: £126.00 inc VAT for members of Surrey Law Society, £252.00 inc VAT for non-members.
Please note that this seminar will be held in the Ranmore Suite on the Ground Floor at Denbies Wine Estate, Dorking. Registration is from 1.30pm with tea and coffee. The session will commence at 2.00pm and finish at 5.15pm with a 15 minute break at about 3.30pm for tea.
Please check our website at www.surreylawsociety.org.uk/terms for the Terms & Conditions before booking.
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