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Finance (No.2) Act 2024received Royal Assent on 24 May 2024.

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.

At Spring Budget 2024, the government announced that it will abolish the furnished holiday lettings (FHL) regime with effect from April 2025.

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

CIOT continues to engage with HMRC to address the challenges arising because of the ‘volume compliance’ approach for enquiries into R&D tax relief claims.

Clause 5 of Finance (No.2) Bill 2023-24 increases, from 6 April 2024:

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.

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.

The Act (see tinyurl.com/yn65e7wy) ensures that:

Provided they are implemented and operated correctly, salary sacrifice arrangements can be used to gain an advantage in a limited number of circumstances, such as pension saving, cycle to work or l