Finance Bill 2024-25: ATT briefings
Hybrid cars
Clauses 5 and 6 of the Finance Bill set out the benefit in kind percentages for company cars which will apply from 2025-26 until 2029-30.
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Simplifying the taxation of offshore interest: HMRC consultation
The consultation explores whether the assessing period for non-UK (‘offshore’) interest should be changed to a calendar year basis, rather than the existing tax year basis, so that the interest tax
Finance Bill 2024: Non‑domicile/remittance basis changes
On 18 November 2024, HMRC convened a meeting of representatives from several professional bodies, including the CIOT, to discuss and seek feedback on the construction of the draft legislation conce
Labour market – a flurry of activity!
Zero hours contracts for agency workers
The government published a consultation in October (tinyurl.com/33y5waw9), on the application of the zero h
Finance Bill 2024: Committee of the whole House debate
The clauses selected for debate by the Committee of the whole House related to capital gains tax (CGT) rates and reliefs, oil and gas taxation, VAT on private school fees rates and rates of stamp d
Taxing emissions: VAT and voluntary carbon credits
A fundamental tenet of regulated emission trading schemes is that some businesses can reduce emissions at a lower cost than others, and the atmosphere is indifferent to the source of emiss
Simple assessment: not so simple perhaps?
From HMRC’s point of view, there are three main ways an individual can be assessed to income tax:
Form P87: new evidence requirements for employment expenses
From 14 October 2024, people who want to claim tax relief on employment expenses using form P87 also have to provide supporting evidence.
Voluntary National Insurance contributions for older years and Home Responsibilities Protection: potential for doubling up?
As readers will be aware, it is usually possible to make voluntary National Insurance contributions (NICs) going back up to six tax years (SI 2001/769, reg 4(3)–(5)).
Making Tax Digital for Income Tax
Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) is now less than 18 months away, with taxpayers with income over £50,000 mandated from 6 April 2026.