ATED draft return published

A tax tribunal has ruled against a Stamp Duty Land Tax (SDLT) avoidance scheme reportedly used in the purchase of Chelsea Barracks.

HMRC has laid down an ultimatum to second home owners who haven't paid their Capital Gains Tax yet; come forward by the end of the week or we'll come and find you.

In an effort to thwart tax avoidance, HMRC is demanding that all schemes designed to get around the Annual Tax on Enveloped Dwellings (ATED) be disclosed to them - or face a fine of up to £1 million.