Insight Hub

• 8 April 2021
• | Martin Campbell
• | Alison Pryde

Capital gains tax for non-UK residents – disposal of all UK land and property

From 6 April 2019 the UK capital gains tax (CGT) regime was extended to cover the disposal of non-residential property by non-UK residents. This change to the tax rules levelled the playing field between (i) UK residents and non-residents, and (ii) residential and non-residential property. This article reviews the impact of this potential CGT charge and reporting requirement for non-UK residents.

• 8 April 2021
• | Martin Campbell
• | Alison Pryde

Inheritance tax Residence Nil Rate Band explained

Did you know, you can pass up to £1 million on to your children free of inheritance tax? No more inheritance tax on family homes. Our helpful series of articles on tax will keep you informed with what you need to know.

• 8 April 2021
• | Martin Campbell
• | Alison Pryde

Scottish Income Tax 2021/22

As part of our helpful series of tax updates, we take a look at changes to the Scottish income tax (SIT) bands which were announced at the Scottish Budget on 28 January 2021 and came into effect from 6 April 2021.

• 8 April 2021
• | Martin Campbell
• | Alison Pryde

Residential property letting – it’s a taxing time for landlords

Many landlords have historically been willing to take out large loans to finance the purchase of buy to let properties on the basis that a tax deduction could be claimed against the rental income for the whole of the interest paid. Income tax relief for interest paid on borrowings is however now restricted to the basic rate of income tax (20%). This article explains the impact of this restriction and potential planning options for landlords.

• 8 April 2021
• | Martin Campbell
• | Alison Pryde

Offshore investment in UK residential property

The UK residential property market has for a long time been an attractive proposition for foreign investors. An increased demand for UK residential property from abroad runs contrary to both the Scottish and UK Governments’ objectives to slow down the property market and encourage wider property ownership.

• 8 April 2021
• | Martin Campbell
• | Alison Pryde

Your personal tax review for the 2021/22 tax year

As we enter a new tax year we understand, in these challenging times for both family life and business life, reviewing tax and finances may be one of the things that becomes more important to all of us. We've produced a personal tax review to help you to identify any tax planning opportunities and take any actions required.

• 19 March 2021
• | Carole Tomlinson

Making time for making a will

For many, making a will is something we mean to do but usually sits around the bottom of the to-do list.  While many of us have a little more time on our hands than we normally would, and have all been concerned about the impact Covid-19 may have upon our families, our friends, colleagues and businesses, it may provide some comfort to finally complete some of those tasks we never get round to in our normal busy lives, such as making a will.

• 17 March 2021

Anderson Strathern strengthens Private Client team with Tax Director hire

• 17 March 2021

Anderson Strathern to merge with Shetland law firm

• 4 March 2021
• | Martin Campbell

Budget 2021 at a glance

Chancellor Rishi Sunak revealed his Budget on 3rd March, but what will be the impact for private individuals? The Chancellor vowed to “protect the jobs and livelihoods of the British people” against the backdrop of the UK emerging from the Coronavirus pandemic.

• 18 February 2021
• | Bruce Farquhar

Succession planning and employee ownership trusts

Passing on an independent or family run business as a going concern will be one of the first priorities when looking to retire or move to a different role within a business. So when it comes to exiting a business, how do owners ensure continuity, especially if there are no obvious family succession routes?

• 15 February 2021
• | Jemma Richardson

The residential property market boom

The Scottish residential property market ended 2020 with a boom, with property values in Edinburgh seeing a sharp increase in the final 3 months of the year. With Land and Buildings Transaction Tax suspended on the first £250,000 of a property purchase price until 31 March 2021 and more high loan-to-value mortgage products available, this is showing no signs of slowing down.