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.
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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
The EU's Carbon Border Adjustment Mechanism: preparing for the next phase
From 1 July 2024, the EU’s Carbon Border Adjustment Mechanism (CBAM) will enter its next phase, requiring exporters to EU member states to use actual embedded emissions data for the quarter fro
Finance (No.2) Bill 2023-24: LITRG briefing high income child benefit charge changes
Clause 5 of Finance (No.2) Bill 2023-24 increases, from 6 April 2024:
VAT and Income Tax Self Assessment penalty reform stakeholder event
Discussions at the stakeholder event focused on what went well, what could have been done differently and what could be changed for the Income Tax Self Assessment (ITSA) implementation.
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.
National minimum wage and salary sacrifice arrangements
Provided they are implemented and operated correctly, salary sacrifice arrangements can be used to gain an advantage in a limited number of circumstances, such as pension saving, cycle to work or l
Simplifying and modernising HMRC’s income tax services: summary of responses
The consultation sought views on three main areas: increased digitalisation of HMRC correspondence; improvements to the flow and timeliness of PAYE information; and reviewing the Income Tax Self As