The legislation removes several restrictions in the cash basis with effect from the tax year 2024/25.
Clause 36 introduces a regulation-making power that allows for the new penalty regime on late filing and late payment (FA2021 ss 116-118 and Sch 24-27) to be brought into effect for income tax from
Representatives from the CIOT and ATT gave evidence to the House of Lords Finance Bill Sub-Committee’s inquiry into the draft Finance Bill 2023-24 (see tinyurl
In the intricate realm of tax advice, one often overlooked facet is the section 198/199 election – a critical element in dealing with capital allowances within commercial property transactions
Private residence relief has been a feature of capital gains tax since the charge was introduced in the Finance Act 1965.
Following completion of an evaluation of the model earlier this year, HMRC have confirmed that they will continue with the temporary Customer Compliance Manager (tCCM) model as part of their overal
The CIOT strongly supports taking a robust approach to those who continue to promote tax avoidance schemes but this needs to be done in a way that has due process with adequate safeguards and appro
The draft regulations themselves have not yet been published, but HMRC’s policy paper published at the same time as the draft legislation indicates that the government will require businesses to pr
VAT and property is a nightmare topic for clients and advisers. It is also probably the most important one to get right because of the amount of tax involved in many deals.
