Insight Hub

Relinquishment and Assignation in Agricultural Tenancies

Relinquishment and Assignation (R and A) was introduced by the Land Reform (Scotland) Act 2016 (the Act). Now effective, this means that secure agricultural tenants who want to leave farming or retire have the option to offer to relinquish their tenancy to their landlord in exchange for a compensatory payment made by the landlord in accordance with the procedures laid down in the Act.

• 30 April 2021
• | Linsey Barclay-Smith

The Job Retention Scheme

As the nation continues to respond and deal with the ongoing impact of the Coronavirus, the UK Government has announced in the Spring Budget 2021 that the Job Retention Scheme will be extended to the end of September 2021. In this insight article, we answer some of the key questions from employers and employees alike concerning the Job Retention Scheme and take account of the most recent developments.

• 27 April 2021
• | Andrew Brown

Online CPD – Medical Negligence and Personal Injury Trusts

We've relaunched our CPD seminar series for solicitors, where we share insight into a different specialist practice area each quarter. In the first informative session on 27 April 2021, our specialists discussed the main issues to be aware of in Medical Negligence and Personal Injury Trusts

Kids Company – lessons for charity trustees

Charity trustees should take great comfort from the recent dismissal of the High Court case against the trustees of Kids Company and the former CEO Camila Batmanghelidjh.

• 16 April 2021
• | Victoria Simpson

A beginner’s guide to buying a rural home

Scrolling through the property sale pages online seems like the perfect escape at the moment.  The ultimate find for many is likely to be a property with onsite parking, no neighbours, a garden with space and uninterrupted views.

• 9 April 2021
• | Sophie Noble

Tax on residential property investment – a tax on all your houses

Residential property investors are experiencing a time of unprecedented change to the tax treatment of residential properties. The property tax system is becoming increasingly pervasive as both the Scottish and the UK Governments seek to increase tax revenue, slow down the property market and encourage wider property ownership.

• 8 April 2021
• | Martin Campbell

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

Furnished holiday lets – time for a tax break

Diversifying your business to include a holiday let can be very advantageous. Not only does it provide a source of additional income but there are a number of tax benefits if the property qualifies as a Furnished Holiday Let (FHL).

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