Here is a cheery Easter message about more changes introduced by our caring/sharing government…
HMRC are digging themselves deeper into our lives with the changes to the Stamp Duty Land Tax provisions. Every property transaction since April 2011 has to be accompanied by a unique identifier of the lead purchaser[private_basic].
What this means in English is that the main buyer of every property in the UK will have to provide their National Insurance Number if they are an individual or if they are a Company/Partnership then a Unique Tax Reference Number (UTR) or VAT Registration Number.
One can only speculate as to why HMRC wants this extra information but I can guarantee you that an investigation will start if you do not include all your property transactions on your Self Assessment Return.
Just another example of how “Big Brother” is watching you and waiting for you to fall foul of one of their millions of rules so they can jump on you with a full blown investigation.
So… if you buy property to live in, to rent out or to renovate and sell on, make sure your accountant knows all about it asap.