CGT, IHT & SDLT for Residential Conveyancers - Red Flags to Look Out For

Introduction

This virtual classroom seminar will identify tax issues that property professionals need to be aware of when dealing with sales and transfers of property. It will highlight red flags, areas of concern, tax calculations, areas of relief and due dates for payment.

The session will also cover the impact of gifts of property in relation to inheritance tax.

These areas have changed a lot in recent years with due dates being moved forward and the removable of various reliefs - now more than ever conveyancers are required to flag tax concerns to their clients - this is particularly the case following the recently published case involving an MP who didn’t receive tax advice from her conveyancers.

Whilst not intended to turn you into a tax adviser, the session is designed to prevent you falling subject to claims should your client receive an unexpected tax bill that they should have been warned against and to highlight when you need to refer your clients to a tax adviser.

The session will include case studies and a chance for you to consider real life situations and tax calculations.

What You Will Learn

This live and interactive session 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

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.