Search

There was much speculation ahead of the first Labour Budget in 14 years.

From HMRC’s point of view, there are three main ways an individual can be assessed to income tax:

As we know, from 6 April 2025, furnished holiday let properties will, for the most part, be treated as normal property rental units. No more bells, no more whistles.

LITRG is hearing from more and more people who are unsure about their state pension tax obligations.

Currently, the legislation allows HMRC to assess the second late payment penalty once, when the amount of outstanding tax is paid in full, within a two-year assessment time limit.

In recent years, HMRC have been increasing their use of one to many (OTM) letters in their compliance approach.

HMRC say that Ocelot is more user-friendly for caseworkers, setting out information on a single platform with task-based procedural guidance that is easier to follow than the manual format.

For individuals (including UK resident trustees and personal representatives) who dispose of UK property, capital gains tax can be a significant cost, especially given the substantial increase

This article supersedes a previous article published in July 2017 ‘Landlord contributions – avoiding the bear traps’.

Members may be asked by clients or potential clients to provide advice, guidance and support to enable the person or business to make a disclosure to HMRC.