Using a simplified VAT scheme could unexpectedly trigger Making Tax Digital for Income Tax compliance
The 2024/25 tax year is effectively the ‘base year’ for triggering Making Tax Digital (MTD) for Income Tax compliance fr...
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R&D: recent engagement with HMRC
Following our meeting with HMRC to discuss ongoing concerns with R&D tax relief enquiries in the summer, we asked yo...
Capital allowances: clarifying uncertainties
On the back of the government’s manifesto commitment to give businesses ‘greater clarity on what qualifies for allowance...
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HMRC guidance on the salaried members rules: CIOT comments
The 2014 salaried members rules (‘the rules’) remove the self-employment presumption of members whom HMRC believe are ef...
Abolition of the furnished holiday lets regime
In July, the government published draft legislation to remove the specific tax treatment for income and gains from furni...
CIOT Autumn Budget 2024 representation: incorporation relief within TCGA 1992 s 162; update on ESC D32 representation
The CIOT used HM Treasury’s call for 2024 Budget representations to outline our concerns on some of the definitions cont...
Loans to participators: charge on upstream loans
Where a loan to a participator in a close company remains outstanding nine months after the balance sheet date, the comp...
Finance (No.2) Bill 2024: CIOT briefings on property and transfers of assets abroad
Finance (No.2) Act 2024received Royal Assent on 24 May 2024.
Welsh land transaction tax consultation
The Welsh government recently consulted on proposals to abolish land transaction tax(LTT) multiple dwellings relief (MDR...
Draft legislation: Improving the data HMRC collects from its customers
The consultation is on GOV.UK website: tinyurl.com/458eb9cs