SDLT, CGT & other taxation traps for Residential Conveyancers (Haydock Racecourse)
Stephen Desmond * Biography
Stephen Desmond has delivered more than 1,800 CPD events to lawyers from a variety of backgrounds, with a particular focus on flat and apartment leases and practical solutions.
Stephen is a contributing editor to Butterworths Property Law Service, writing on the complex law relating to long and short leases. He also writes on the subject of commercial property.
A non-practising Solicitor with several years’ post-qualification experience, Stephen has represented many business and private clients.
The danger for a property lawyer who is not a tax specialist is that important taxation implications of a property transaction are overlooked.
The course will provide an overview of the basics of property-related taxation. Two key objectives are to help busy conveyancers identify situations where the client would benefit from seeking specialist tax advice and where the conveyancer needs to explain the scope of their expertise as a property lawyer.
This presentation will cover the following:
- Is it sufficient to merely say to clients, “We do not advise on tax”?
- How far should your retainer extend when the client might be entitled to claim back an overpayment of SDLT?
- SDLT: Overview of the surcharge on purchase of additional residential properties, such as whether a dwelling is a main residence
- SDLT: New first-time buyer’s exemption (including shared ownership purchases)
- Capital Gains Tax: Second homes and buy-to-let properties, proving property is a main residence, new rules requiring payments to be made on account with effect from 2020
- IHT: Implications for deeds of gifts and transfers at undervalue
- Income Tax: What to consider excluding from your retainer
- Pre-owned asset charge: When a client could be liable for this income tax charge