Construction Industry Scheme: HMRC’s new guidance on payments made by a landlord to a tenant
The Income Tax (Construction Industry Scheme) (Amendment) Regulations 2024 (SI 2024/308) came into force on 6 April 2024.
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Welsh land transaction tax consultation
The Welsh government recently consulted on proposals to abolish land transaction tax(LTT) multiple dwellings relief (MDR) following the UK government’s decision to abolish the equivalent relief for
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.
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
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.
Transparency of land ownership involving trusts
The ATT has responded to the consultation on ‘Transparency of land ownership involving trusts’, which was issued late in 2023.
ATT Autumn Statement representations
Trivial benefits
Our first Autumn Statement representation dealt with two aspects of the trivial benefits exemption in the Income Tax (Earnings and Pension) Act 2003 s 323A: revising
Business rates avoidance and evasion
The CIOT responded to the joint HM Treasury and Department of Levelling Up, Housing and Communities consultation on tackling business rates avoidance and evasion.