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Finance (No 2) Act 2017

The CIOT made a formal submission to the Public Bill Committee during the passage of what was the Finance Bill 2017–19 through Parliament highlighting key points o

November, the Trading and Property Allowances, originally announced at Budget 2016 with the aim of providing simplicity and certainty regarding income tax obligations on small amounts of income

The TAAR, found in ITTOIA 2005 s396B, was introduced to prevent individuals converting what would otherwise be a dividend into a capital payment.

Universal credit is gradually replacing working tax credit and child tax credit, so advisers whose clients currently claim tax credits can expect them to be moved to universal credit over the next

Following the changes to legislation that took effect from 6 April 2015, allowing greater choice over how an individual might access their pension savings, the Work and Pensions Committee of the Ho

Paying at the Post Office

The Transcash service at the Post Office is being withdrawn from 15 December 2017 and, as a result, HMRC payslips will no longer be accepted at the Post

The Finance (No 2) Bill 2017 is currently passing through Parliament and is expected to receive Royal Assent in December.

The extensive Treasury consultation ‘Financing growth in innovative firms’ considers the lack of effective supply of patient capital, current interventions and potential solutions.

On 13 July 2017, the government announced that the ‘Summer’ Finance Bill would not be published until September, however, they also provided some information about the content of the Bill and when

For an interest in possession trust (typically one where there is a life interest so that the life tenant is entitled to the income) where income is ‘mandated’ to the beneficiary, the trustees do n