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.
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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
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.
Transparency of land ownership involving trusts
The ATT has responded to the consultation on ‘Transparency of land ownership involving trusts’, which was issued late in 2023.
Business rates avoidance and evasion
The CIOT responded to the joint HM Treasury and Department of Levelling Up, Housing and Communities consultation on tackling business rates avoidance and evasion.
A fairer council tax for Scotland
The Scottish government teamed up with the Convention of Scottish Local Authorities (COSLA – on behalf of local government) to consult on a fairer council tax system.
Simplifying the Construction Industry Scheme
The consultation considered three proposals.
Significant changes are underway to business rates
The Non-Domestic Rating Bill 2023, that applies in England and in part to Wales, makes significant changes to business rates.
Natural capital consultation
On 15 March, the government published a consultation on the ‘Taxation of environmental land management and ecosystem service markets’.
Land and buildings transaction tax and the additional dwelling supplement
In February 2022, the Scottish government launched a public consultation on wide-ranging reforms to the additional dwelling supplement (ADS), looking at: