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Transitional adjustments when moving between GAAP and the cash basis

Members are concerned about the operation of the transitional adjustments when moving between GAAP and the cash basis

The consultation document states that the proposals are largely driven by the aim of achieving consistency of treatment with regard to income from UK real property between UK resident companies (al

The CIOT has written to HMRC to express concern about the use of guidance as a substitute for clear, well targeted legislation in light of the draft guidance (which will form part of the internatio

The Finance Bill published in March received Royal Assent on 27 April and so became Finance Act 2017.

Despite the shortened timetable for the Finance Bill, with the House of Commons stages passing in one short afternoon on the 25 April and the Bill receiving Royal Asset on the 27 April, the governm

The CIOT submitted further comments to HMRC about the draft legislation in clause 124 of the Finance Bill published in March 2017, which w

The CIOT also submitted further comments to HMRC about the draft legislation in clause 128 and Schedule 29 of the Finance Bill published in March 2017 which would introduce a ‘Requirement to Correc

Along with numerous other measures (as reported above), the MTD clauses were removed from the Finance Bill and are therefore not part of Finance Act 2017.

HMRC’s consultation document Making Tax Digital – sanctions for late submission and late payment was published on 17 March 2017.

Regulations came into force on 30 September 2016 requiring certain businesses (including tax advisers and financial institutions) to write to their clients with HMRC branded wording and enclosures.