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In July, the government published draft legislation to remove the specific tax treatment for income and gains from furnished holiday lets (FHLs) from April 2025.

The 2014 salaried members rules (‘the rules’) remove the self-employment presumption of members whom HMRC believe are effectively employees.

The CIOT used HM Treasury’s call for 2024 Budget representations to outline our concerns on some of the definitions contained within TCGA 1992 s 162.

Where a loan to a participator in a close company remains outstanding nine months after the balance sheet date, the company making the loan is required to make a payment to HMRC equivalent to33.75%

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) Act 2024received Royal Assent on 24 May 2024.

The consultation is on GOV.UK website: tinyurl.com/458eb9cs

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.

The CIOT has written to HMRC about uncertainties in the application of ESC D32 on the incorporation of a business, where an individual transfers the whole of the assets and liabilities to a company