Retaining an interest in a gift

Retaining an interest in a gift

by | Apr 27, 2023 | HMRC notices

The settlements legislation is contained in s.624 ITTOIA 2005. The legislation seeks to ensure that where a settlor has retained an interest in property in a settlement that the income arising is treated as the settlor’s income for all tax purposes. A settlor...
The Let Property Campaign

The Let Property Campaign

by | Apr 20, 2023 | HMRC notices

The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any outstanding liabilities whether due to misunderstanding the tax rules or...
Spring Budget 2023 – Social investment tax relief to end

Spring Budget 2023 – Social investment tax relief to end

by | Mar 16, 2023 | HMRC notices

It was confirmed as part of the Spring Budget announcements that the Social investment tax relief (SITR) scheme will end as planned on 5 April 2023. New investments made on or after 6 April 2023 will no longer qualify for Income and Capital Gains Tax relief. The...
Properties not let at commercial rates

Properties not let at commercial rates

by | Feb 23, 2023 | HMRC notices

There are special rules where a property is let at less than a commercial rate or isn’t let on commercial terms. These rules also apply if a property is occupied rent free or at less than a commercial rate, for example, a property is occupied by a family member...
Moving goods to and from Northern Ireland

Moving goods to and from Northern Ireland

by | Feb 16, 2023 | HMRC notices

There are special procedures for moving goods in and out of Northern Ireland. Under the Northern Ireland Protocol, all Northern Ireland businesses continue to have access to the whole UK market.  HMRC lists the following six-steps that should be considered before...
Five more tax avoidance schemes named by HMRC

Five more tax avoidance schemes named by HMRC

by | Jan 26, 2023 | HMRC notices

HMRC has powers introduced in the Finance Act 2022 to name tax avoidance schemes and their promoters. Under this legislation HMRC can name avoidance scheme promoters, publish details of the way they promote tax avoidance schemes and name the schemes they promote. This...