Public Accounts Committee inquiry: universal credit
LITRG’s response (www.litrg.org.uk/10903) to the Public Accounts Committee’s call for evidence (tinyurl.com/57emuwce
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Finance (No.2) Bill 2024: CIOT briefings on property and transfers of assets abroad
Finance (No.2) Act 2024received Royal Assent on 24 May 2024.
Non-domicile changes
The Budget in March 2024 contained proposals for changes to the taxation rules for foreign income and gains and inheritance tax (IHT) deemed domicile rules.
Pillar Two rules: roadmap to compliance
The Pillar Two rules are now in effect in the UK and other countries, with more countries in the process of introducing rules from 2025 onwards.
Furnished holiday lets: Spring Budget 2024
At Spring Budget 2024, the government announced that it will abolish the furnished holiday lettings (FHL) regime with effect from April 2025.
Shariah compliant refinancing and capital gains tax
In 2018, the CIOT made a proactive submission to HMRC about the capital gains tax (CGT) trap on refinancing property using alternative (Shariah compliant) finance (see Mohammed Amin’s article in
The payrolling of benefits: new employer obligations
A lot has changed since P11D forms were introduced in the early 1960s. In April 2016, the voluntary payrolling of benefits in kind was introduced.
Compensation and termination fees: VAT treatment of payments
If any reader is still unaware about the basic facts of the Post Office Horizon saga, the outcome was that hundreds of self-employed sub-postmasters were sacked and forced to repay large sums o
Finance (No.2) Bill 2023-24: LITRG briefing high income child benefit charge changes
Clause 5 of Finance (No.2) Bill 2023-24 increases, from 6 April 2024:
VAT and Income Tax Self Assessment penalty reform stakeholder event
Discussions at the stakeholder event focused on what went well, what could have been done differently and what could be changed for the Income Tax Self Assessment (ITSA) implementation.