On 18 July 2023, several consultations were launched as part of ‘Legislation Day’ (or ‘L-Day’); one of these concerned the tax treatment of Employee Ownership Trusts (EOTs) and Employee Benefit Tru
Basis period reform will start from the 2024/25 tax year, with 2023/24 being a transitional tax year so that all unincorporated businesses move to reporting their business profits on a tax year bas
The attempts of employees (typically, directors) to extract funds from their companies in a tax-efficient fashion and the attempts of the authorities to thwart such arrangements are likely to
Employee ownership is a growth sector in the UK. The Employee Ownership Association identifies over 1,400 employee-owned businesses.
The draft regulations themselves have not yet been published, but HMRC’s policy paper published at the same time as the draft legislation indicates that the government will require businesses to pr
Our response, which can be read in full at www.tax.org.uk/ref1185, covered the following matters:
The apparent ‘misnaming’ of the two types of relief do not help employers to get things right: a ‘net pay arrangement’ (NPA) sees contributions being deducted from gross income; and a ‘rel
Back in July 2022, HMRC issued a call for evidence on the tax treatment of decentralised finance (DeFi) transactions, considering if and to what extent the staking and loaning of cryptoassets shoul
The ATT and CIOT have responded to the HMRC/HMT consultation the ‘Taxation of environmental land management and ecosystem service markets’.
