CGT, IHT & SDLT Issues for Conveyancers - A Practical Workshop

Introduction

This seminar will explore the key tax issues that property professionals need to be aware of when dealing with the sale and transfer of property. It will highlight potential red flags and areas of concern, as well as covering tax calculations, available reliefs and payment deadlines.

It will also consider the inheritance tax implications of gifts and transfers of property.

These areas have changed significantly in recent years, with payment deadlines brought forward and various reliefs removed. As a result, conveyancers are increasingly required to identify and flag potential tax issues to their clients. This is particularly important following the recently published case involving an MP who did not receive appropriate tax advice from her conveyancers.

The aim of this seminar is to help you recognise potential tax issues, understand when clients may need to be warned about the possibility of an unexpected tax liability, and identify when it is appropriate to refer them to a specialist tax adviser. This can help reduce the risk of claims arising where a client has incurred a tax liability that they could reasonably have expected to be advised about.

The seminar will include practical case studies, giving you the opportunity to consider real-life scenarios, work through tax calculations and apply the principles discussed during the session.

What You Will Learn

This course will cover the following:

• Introduction to capital gains tax
• Rates of tax and the annual exemption
• When payable and the interaction with income tax
• Part disposals
• Principal private residence relief and deemed occupation
• Lettings Relief
• Non-Resident CGT charge on residential properties
• Granting and assigning leases
• Introduction to inheritance tax
• The nil rate band and the residential nil rate band
• Gifts to trust
• Sales at an undervalue
• Gifts with reservation of benefit and Pre-Owned Assets Tax
• Deliberate deprivation and undue influence in addition
• SDLT - rates and problem cases - red flags and the need to get your calculations checked and approved