The acquisition of domicile of choice: HMRC's changing approach
There has been another success for HMRC at the First-tier Tax Tribunal in relation to a taxpayer’s domicile status (Shah v HMRC [2023] UK FTT 539 (TC)).
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CIOT and ATT’s Joint Climate Change Working Group
The remit of the Climate Change Working Group (CCWG) is to consider the implications of climate change and net zero for UK tax policy. This includes:
Inheritance tax: the nuances of ‘interest in possession’
Before the sudden reforms of the inheritance tax rules in March 2006, there was a fundamental distinction between life-interest trusts and discretionary trusts.
VAT energy saving materials relief: CIOT response to call for evidence
Budget 2023 announced a call for evidence to consider options to reform the VAT relief for the installation of energy saving materials in the UK.
Extension of the Climate Change Agreement scheme
The CIOT submitted a response (see www.tax.org.uk/ref1109) to the Department for Energy Security and Net Zero’s consultation: ‘Climate Change Agreements:
Natural capital consultation
On 15 March, the government published a consultation on the ‘Taxation of environmental land management and ecosystem service markets’.
Net zero initiatives: carbon credits and VAT
Following on from our March 2023 article, ‘Tax and the Woodland and Peatland Codes’ (tinyurl.com/54rdynd5) in which the ATT’s Natural Capital Working Group
Tax and the Woodland and Peatland Codes: March 2023
It has a been a little over a year since our first article in January 2022 inviting feedback from members with clients involved in the Woodland and Peatland Codes and a lot has happened since then.
Implied trusts and beneficial ownership: who is the real owner?
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‘Taxation of income is based on beneficial ownership, not legal ownership.