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Stamp Duty Land Tax Changes

Ray Stewart General, Tax Matters Leave a Comment

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.

~Ray[/private_basic]

Ray Stewart
I am a qualified Certified Practising Accountant having passed my final exams way back in 1981. I actually can’t believe that was 37 years ago!! Anyway, I am now in my 60’s and I have been running my own business since May 1983. And before you ask, no, I have never regretted a moment of it! Part of the membership requirements of my professional body now dictate that I spend quite a lot of time on “CPD” - continuing professional education (one of their better ideas) - and over the last two years I decided to study business growth and marketing. I have learnt such a lot and that knowledge has radically changed my old “accountants” approach to business. It has made such a difference to the way I work and operate I feel that I just have to pass on this knowledge. It is simply too powerful to hold back!! - but I will try and do it in simple terms rather than expecting you to spend hours, as I had to, working through the difficult language that trainers seem to use to pass on their concepts. I hope you find the blog a useful resource and interesting place to visit as the months pass. I will do my best to keep up the flow - but if there are any topics you would like me to cover, then please let me know. Ray Stewart
Ray Stewart
Ray Stewart

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