Settlement legislation – non-trust settlements

Settlement legislation – non-trust settlements

by | Jul 28, 2022 | HMRC notices

The settlement legislation seeks to ensure that where a settlor has retained an interest in property that the income arising is treated as the settlor’s income for all tax purposes. A settlor can be said to have retained an interest if the property or...
Tax gap remains at 5.1%

Tax gap remains at 5.1%

by | Jul 14, 2022 | HMRC notices

The tax gap for the 2020-21 tax year has been published and remains at 5.1%. This is the second lowest recorded percentage and remains unchanged from the previous 2019-20 tax year. The tax gap is basically the difference between the amount of tax that should have been...
Standards for tax agents

Standards for tax agents

by | Jul 7, 2022 | HMRC notices

HMRC last published guidance on the standard for agents in January 2018 (updating the first set of standards published in February 2016). The standard applies to all tax agents who transact with HMRC and to any professional who advises or acts on behalf of others in...