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.
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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.
VAT registration: Ongoing engagement with HMRC
Non-established taxable persons
In our October 2023 article in Tax Adviser, (tinyurl.com/3pd32ume), we highlighted that the wording in a q
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
VAT and voluntary carbon credits
HMRC published Revenue and Customs Brief 7 (2024) VAT treatment of voluntary carbon credits (tinyurl.com/53pydsuy) on 9 May, which confirms that v
Introducing the new UK carbon border adjustment mechanism
HM Treasury and HMRC launched their joint ‘Consultation on the introduction of a UK carbon border adjustment mechanism’ (CBAM)
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.
Opening hours for a simplified alcohol duty regime
Since 2020, new alcohol duty legislation has come into effect (1 August 2023), including the primary legislation (see tinyurl.com/mrkmcrtj) and The Alcohol
Welsh land transaction tax
The recent Welsh government’s land transaction tax (LTT) consultation looks at extending the time limit indefinitely for reclaims and exemption from higher rates in limited circumstances.