TAX ON PROPERTYPDF电子书下载

1 Occupation of Business Premises 1

1.1 Status of property owners 1

1.2 Owner-occupation by traders, etc 3

1.3 Sub-letting of surplus accommodation 6

1.4 Sale and leaseback 7

1.5 Remediation of contaminated land - Land Remediation Relief 13

2 Property Letting 17

2.1 Introduction 17

2.2 Computation of property business profits 24

2.3 The property business rules: income tax 30

2.4 The business property rules: corporation tax 33

2.5 The business property rules: furnished lettings 34

2.6 Premiums, etc: general 37

2.7 Computations 45

2.8 Reverse premiums 52

2.9 Rent factoring 55

2.10 Transitional 57

2.11 Transfer of income streams 57

2.12 Exemptions and reliefs 59

2.13 Losses 61

2.14 International aspects 64

2.15 Historic （pre-1963） Schedule A 75

3 Property Dealing and Development 79

3.1 General 79

3.2 Taxable situations 81

3.3 What is a trade? 83

3.4 Joint ventures 94

3.5 Private Finance Initiative projects （PFI） 97

3.6 Computations 106

3.7 Appropriations to and from stock 110

3.8 Disposal of stock to another trader 112

3.9 Rental income 114

3.10 Premiums received and paid 115

3.11 Abortive and deferred expenditure 116

3.12 Waste disposal 117

3.13 Miscellaneous points 120

3.14 Timeshare schemes 121

3.15 Forward funding of property development 122

3.16 Exemptions and reliefs 124

3.17 Non-residents 125

3.18 Overseas property 128

4 ‘Artificial’ Transactions in Land 133

4.1 Introduction 133

4.2 Scope of provisions 135

4.3 Chargeable property 136

4.4 Timing 137

4.5 Development 137

4.6 Appropriation of dealing stock 137

4.7 Shares in property-dealing companies 138

4.8 Asset strippers 138

4.9 Acquisition of other interests 138

4.10 Intra-group transfers 139

4.11 Private residences 139

4.12 Non-residents and property situated abroad 139

4.13 Clearance procedure 140

4.14 Computation of chargeable profit 141

5 Capital Allowances 145

5.1 Introduction 145

5.2 Industrial buildings 149

5.3 Plant and machine 150

5.4 Other allowances 183

5.5 Treatment of allowances 194

6 Relief for Interest Payable 199

6.1 The general rules 199

6.2 Interest treated as a distribution 202

6.3 Thin capitalisation 206

6.4 Interest payable under deduction of tax 213

6.5 Other interest payable by individuals 214

6.6 Loan relationships 216

7 Construction Industry Scheme 227

7.1 Overview 227

7.2 Contractors 229

7.3 Subcontractors 232

7.4 Construction operations 232

7.5 Non-construction businesses 234

7.6 Gross payment requirement 235

7.7 Gross payments 237

7.8 Deductions from payments 239

7.9 Verifying subcontractors 241

7.10 Subcontractor’s payment and deduction statement 242

7.11 Records 243

7.12 Penalties 244

7.13 HMRC Guidance 245

8 Capital Gains 247

8.1 Introduction 247

8.2 Disposals 250

8.3 Computations 262

8.4 Computations - special rules 289

8.5 Exemptions and reliefs generally 312

8.6 Companies 337

8.7 Individuals, trustees and personal representatives 355

8.8 Partnerships 378

8.9 Overseas elements 386

8.10 Miscellaneous 398

9 Real Estate Investment Trusts 403

9.1 Overview of the legislation 403

9.2 Conditions for a company to qualify as a REIT 406

9.3 Tax liabilities of a REIT 408

9.4 Distributions from tax-exempt business 412

9.5 Tax liabilities of a shareholder in a REIT 413

9.6 Company becoming a REIT 414

9.7 Company ceasing to be a REIT 415

9.8 Groups 416

9.9 Joint ventures 418

9.10 Anti-avoidance 419

9.11 Miscellaneous 420

10 Inheritance Tax 421

10.1 Introduction 421

10.2 Sale of land from deceased’s estate 423

10.3 Payment of IHT by instalments 433

10.4 Business property relief （BPR） 439

10.5 Agricultural property relief （APR） 467

10.6 Woodlands 488

10.7 Gifts with reservation of bene№it 492

10.8 Pre-owned assets - the charge to income tax 505

11 Stamp Duty Land Tax （SDLT） 515

11.1 The charge to SDLT 515

11.2 Contract and conveyance 520

11.3 Assignments and sub-sales 521

11.4 Options and pre-emption rights 523

11.5 Exchanges 524

11.6 Exempt transactions 530

11.7 Exempt but potentially notifiable transactions 533

11.8 Computation of SDLT liability 537

11.9 Reliefs 571

11.10 Company reorganisations, reconstructions, acquisitions, etc 604

11.11 Administration 619

11.12 Partnerships 620

11.13 Special provisions 627

11.14 Transitional rules 636

11.15 Section 75A, Finance Act 2003 641

12 Value Added Tax 649

12.1 General principles and terms of VAT 649

12.2 Input tax concerns 653

12.3 Transfer of a business as a going concern （TOGC） 663

12.4 Place of supply of land, construction services, etc 667

12.5 Land transactions 669

12.6 Option to tax （OTT） 709

12.7 Construction services 723

12.8 Building materials 744

12.9 Other items 748

12.10 The capital goods scheme 748

12.11 Refund of tax to ‘do-it-yourself’ uilders 754

12.12 HMRC material and contact 757

13 Landfill Tax 759

13.1 General principles 759

13.2 Exemptions 765

13.3 Credits 770

13.4 Administration 772

13.5 Secondary liability 777

13.6 Enforcement 780

13.7 Impact on direct taxes 783

14 Aggregates Levy 785

14.1 General principles 785

14.2 Calculation of liability 786

14.3 Exempt aggregates and processes 788

14.4 Credits and refunds 792

14.5 Registration 795

14.6 Returns, payment and repayment of levy 799

14.7 Assessments, appeals and the review procedure 800

14.8 Ordinary interest and penalty interest 802

14.9 Enforcement 803

15 Local Taxes 807

15.1 An introduction to local taxation 807

15.2 Domestic/non-domestic property 814

15.3 Council tax 816

15.4 Business rating 824

Case Table 839

Legislation Finding List 847

HMRC Publications 867

Index 869