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This What's New section is a quick one-stop shop to show you the most recent additions to the Members Area (log-in required) and News items.

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Jeremy's Blog 8th March 2024: The Budget - Positive APR Decisions

News

This article by Jeremy Moody first appeared in the CAAV e-Briefing of 7th March 2024 Agricultural Property Relief (APR) from Inheritance Tax has again proved a very robust relief. In yesterday’s Budget with the financial constraints of poor growth, the Treasury issued the Government’s answers to last year’s major consultation: it will work with interested parties to understand what environmental transactions and assets really involve and develop a shared analysis of the issues and so how...

#63 – A review of the Spring Budget

Resources

This week, we heard Chancellor Jeremy Hunt’s final Budget of this Parliament – and likely the final Tory budget for a few years. Much was touted ahead of the Budget, but what has it really delivered? Jeremy Moody, secretary and adviser to the CAAV, has been trawling through the depths of the details to see what lies behind the headline figures.

England, Wales and Scotland: Summary of CMA Market Study Report into Housebuilding

News

A summary of the Competitions and Market Authority (CMA) market study final report into housebuilding. The study considers a range of matters including planning policy, supply of housing, quality and innovation and the private management of amenities on housing estates providing an overview of their issues as well as CMA recommendations on these.

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CAAV Note 240406: IHT - Extension of APR for Farmland in Some Environmental Commitments

Documents

The Government has today responded to last spring’s consultation on this issue and recognised the need to extend APR to farmland put into qualifying environmental agreements to remove the tax disincentive for owners and farmers to do this, fearing the loss of protection from Inheritance Tax’s 40 per cent charge. It refers to the particular problem for the tenanted sector where, without this, a tenant could change the landlord’s tax status. The note below provides further information....

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Treasury Consultation on Environmental Taxation and APR – Government Response

News

Following last year’s consultation, the Government has just announced that: “After careful consideration of the responses, the Government’s response outlines it has decided to: establish a joint HM Treasury and HMRC working group with industry representatives to identify solutions that provide clarity on the taxation of ecosystem service markets where existing law or guidance may not provide sufficient clarity extend the existing scope of agricultural property relief from 6...

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CAAV Note 240305: Net Zero and Development - Court Quashes Gove Decision

Documents

Last year, Michael Gove, Secretary of State for Levelling up, Housing and Communities, called in a planning application by Marks and Spencer for the demolition and replacement of its store in Oxford Street. Marks and Spencer has now succeeded in the High Court in having that decision quashed. Its appeal was upheld on five of the six grounds advanced, including the net zero argument (see decision). The note below provides further information....

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CAAV Note 240304: Inheritance Tax - Wedding Venue Fails For BPR - Butler v HMRC

Documents

The decision in Butler v HMRC by the First Tier Tribunal decision denied Business Property Relief (BPR) from Inheritance Tax to a taxpayer on the basis of an LLP business which principally operated as a wedding venue. This decision turned on the specific facts of how the wedding venue came to be operated and, as a First Tier Tribunal decision, it does not bind any other Tribunal. While the operation employed four people full time, it was found to be more akin to being the landlord of commercial...

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Jeremy's Blog 1st March 2024: Look for Housing Policies that Work

News

This article by Jeremy Moody first appeared in the CAAV e-Briefing of 29th February 2024 Perhaps, as in T.S. Eliot’s words, “Humankind cannot bear very much reality” (Four Quartets). Much of our public discussion seems based on making gestures, that the wish is better than the deed, the protest more material than the answer, rather than facing the realities of our problems and tackling them, explaining the issues and applying the practical remedies. One of the greatest challenges of...

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240301: Scotland - Heat in Buildings Bill Consultation

Documents

The Scottish Government are consulting on proposals to be brought forward in its Heat in Buildings Bill. There are five broad proposals: use of “polluting heating systems” to be prohibited after 2045; those purchasing a home or business premises to end their use of polluting heating systems within a fixed period following completion of the sale; new laws that will require people and businesses to end their use of polluting heating when a heat network becomes available; homeowners to...

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240301: Economic Crime and Corporate Transparency Act 2023 - Factsheet Published

Documents

The Home Office has published a factsheet, summarising changes to be brought in by the Economic Crime and Corporate Transparency Act 2023. Once fully implemented, the Act will provide a range of measures to tackle money laundering, corruption and fraud. This includes greater transparency over who owns and controls Limited Companies and limited partnerships (LPs). The CAAV Note of 9th May 2023 outlines how the Act will sit alongside other anti-money laundering and transparency legislation....

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CAAV Note 240229 HMT HMRC Consultation Treasury Letter to the CAAV

Documents

Last year, the CAAV made this response to the consultation by the Treasury and HMRC on the taxation of environmental land management and eco-system markets. The Financial Secretary to the Treasury, Nigel Huddleston, has now replied to the CAAV saying that “the Government will give a further update in Spring 2024”. This note provides further briefing....

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England and Wales: Amendments to the Rating of Renewable Energy Projects

Documents

New non-domestic rating lists were compiled on 1st April 2023. When new non-domestic rating lists are compiled, the rateable values of hereditaments are reassessed. Hereditaments may see changes in rateable value compared with 31st March 2013 without there necessarily having been a change to the hereditament. The Non-Domestic Rating (Rates Retention and Renewable Energy Projects) (Amendment) Regulations 2024 amend The Non-Domestic Rating (Rates Retention and Renewable Energy Projects)...

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