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
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
The government published a consultation in October (tinyurl.com/33y5waw9), on the application of the zero h
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
From HMRC’s point of view, there are three main ways an individual can be assessed to income tax:
From 14 October 2024, people who want to claim tax relief on employment expenses using form P87 also have to provide supporting evidence.
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 Self-Assessment (MTD ITSA) is now less than 18 months away, with taxpayers with income over £50,000 mandated from 6 April 2026.
Broadly, carried interest is the allocation of an equity fund’s profit share paid to investment managers in connection with their management activities.
The 2014 salaried members rules (‘the rules’) remove the self-employment presumption of members whom HMRC believe are effectively employees.
