Taxation of UK Land and Buildings – Key Haven Seminar

Taxation of UK Land and Buildings

An Extended Afternoon Seminar at The Law Society’s Hall, London WC2A

Wednesday May 9th 2018


Fees £575 + VAT (of £115) = £690

With early bird price for bookings confirmed before April 9th of £520 + VAT (of £104) = £624.

 Since the Brexit Referendum, the screws of UK tax law continue to be tightened to increase taxes on UK land. Most affected are companies, trusts and individuals resident (or domiciled) outside the UK. Is this some cunning plan to encourage the foreign investment which will be so badly needed once the UK has left the EU?

First, the anti-avoidance rules which tax capital gains as income were replaced wholesale by more Draconian provisions and non-UK residents who make gains from UK land have been subjected to new charges on income even when they do not trade in the UK through a permanent establishment, in each case without any consultation.

Next, new rules were enacted to prevent indirectly held UK resident property interests falling outside the charge to inheritance tax as excluded property.

Now, there are proposals for the taxation of non-UK residents in respect of capital gains from directly or indirectly held UK real property of any description.

Next, will do doubt be the extension of the inheritance tax rules to all indirectly held UK real property interests.

The rates of SDLT have been greatly increased and the rules become more complex than ever.

VAT on UK land, never a simple topic, has become horrendously complex, even before Brexit.

A panel of barristers will discuss tax planning in the light of these changes and likely future changes.

Robert Venables Q.C. (Chairman)

Harriet Brown

Patrick Cannon

Etienne Wong

Sarah Squires

All the speakers are from Old Square Tax Chambers, Lincoln’s Inn, WC2A 3UE, 020 7242 2744,



12.00 Registration and Buffet Meal

13.00 Chairman’s Introduction

13.05 Trade of Dealing in United Kingdom Land & New Anti-Avoidance Provisions – Robert Venables Q.C.

New Finance Act 2016 Regimes for corporation tax and income tax – Widened Scope of Charge – Comparison with Replaced Anti-Avoidance Provisions – Irrelevance of permanent establishment – Unexpected Effects

13.45 Taxation of Non-UK Residents on Chargeable Gains from United Kingdom Land – Sarah Squires

The present regime: ATED gains and NRCGT gains on residential property interests – The Consultation Document Taxing gains made by non-residents on UK immovable property: extension of direct charge to all United Kingdom property interests – introduction of charge on indirectly held United Kingdom property interests – transitional provisions

14.30 Current SDLT Issues – Patrick Cannon

When can you claim the lower rates for mixed use property? – SDLT Follower Notices after Geering v HMRC [2018] – Is there a gap in the 3% additional rate for joint owners who purchase another dwelling? – Supreme Court decision in Project Blue – FA 2018 SDLT changes

15.10 Inheritance Tax on Indirectly Held United Kingdom Residential Property Interests

Finance (No 2) Act 2017 Changes – Interests in Companies and / or Partnerships – Creditor’s Rights under Loans – run-off charge the TAAR – Extension to all United Kingdom property interests?

15.40 Current VAT Issues – Etienne Wong

Non-resident landlords, managing agents and “fixed establishments” – HMRC’s current position; Novating sale contracts; Recovering VAT on property developments – Iberdrola; Using land to pay tax (and distributions in specie); Non-business charitable use, incorporating existing buildings in residential developments – is Brexit the answer?”

16.20 Discussion Session with Tea

16.35 Double Taxation Conventions and EU Law Defences – Robert Venables Q.C.

Wording of Double Taxation Conventions – Limited Treaty Override – EU Override

17.00 Questions to Panel and Discussion Session

17.30 Close of Seminar



Cancellations in writing 14 days prior to the seminar qualify for a refund subject to a £50 charge. Cancellations within 14 days prior to the seminar do not qualify for a refund.

Disclaimer: Key Haven Publications Ltd reserves the right to change the speakers or the programme for any reasons beyond its control or on account of changes in the law. Nothing in the talks or discussions or the prepared notes constitute legal advice. They are simply an expression of the speakers’ views, put forward for consideration and discussion. No action should be taken nor omitted in reliance on them but independent professional advice should be taken in every case. Neither the speakers nor Key Haven Publications Ltd accept any legal responsibility for them.

Warning: Neither Key Haven Publications Ltd nor the speakers gives any licence to any person to record and/or reproduce in any format (including sound and/or visual recording) (a) any Notes prepared in conjunction with this seminar; (b) the delivery by any speaker of any talk or any response to any question or discussion, in whole or in part, on any of the above. Any such unlicensed recording or reproduction or the making of any such epitome or transcript is a civil wrong and could well involve the commission of a criminal offence.