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Furnished holiday lettings

Clause 25 and Schedule 5 provide for the abolition of the furnished holiday lettings (FHL) regime with effect from 1 April 2025 for companies and 6 April 2025 for

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.

Following the October Budget, the CIOT made representations expressing concern about the narrow focus of the new distributions relief, along with the need to claim it, and the lack of any guidance

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

The consultation sought views on four areas:

a) amendment to conditions for making claims;

b) reform of revenue correction notice conditions;

The ATT and CIOT have both recently responded to the HMRC technical consultation ‘Inheritance tax on pensions: liability, reporting and payment’ (see tinyurl.c

When registering an overseas company for VAT results in a sole proprietor outcome

We reported in Tax Adviser in October 2023 (tinyurl.com/

Clauses 19 to 22 of the Finance Bill 2024-25 make changes to various international tax aspects of the UK tax code.

The CIOT’s latest response was largely positive, many of the Finance Bill proposals being in tune with suggestions the CIOT made in the 2023 consultation.

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