Personal tax

Technical
1 July 2017

LITRG explains changes this year to HMRC’s processes for renewing and checking tax claims.

Technial
1 July 2017

In March 2017 the government published a consultation document which considers proposals to bring non-resident companies within the charge to corporation tax in respect of income arising from UK real property and also gains which are currently taxed as non-resident CGT gains (NRCGT gains). The CIOT commented that we would prefer to see a strategic review of property taxation and that further work should be done on the Exchequer and economic impact of the proposals before any decision is taken.

Technical

Following consultation, the draft provisions introducing the cash basis for the calculation of the taxable profits of property businesses were included in Finance (No. 2) Bill 2017 at Clause 19 and Schedule 5. These provisions were dropped from the pre-election Finance Act 2017. At the time of writing we do not know whether (and from what date) the provisions may be re-introduced. However, as the proposed statutory cash basis for property businesses owes its origin, at least in part, to Making Tax Digital, it is reasonable to assume that it will be re-introduced. Therefore we continue to raise issues with HMRC based on the draft provisions.

Technical
1 June 2017

www.litrg.org.uk provides an overview of trivial commutation rules for defined benefit pensions, and in-house defined contribution that are in payment

Technical
1 June 2017

The CIOT has responded to one aspect of the Housing White Paper that considers land pooling as an effective contribution to assembling land for sustainable development

Technical
1 May 2017

The consultative process moves into its final stages with the publication of the Finance Bill, however some provisions will not be legislated for in the 2017 Act.

Technical
1 April 2017

LITRG comments on issues that keep arising with marriage allowance claims

Technical
1 April 2017

LITRG raised concerns about the possible impacts of the planned reduction in the pension money purchase annual allowance (MPAA)

Technical
1 April 2017

LITRG commented on the ongoing consultation on the government’s proposal to form a single financial guidance body.

Technical
1 April 2017

The CIOT responds to the second tranche of legislation and HMRC issues clarification in some areas.