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Accommodation that qualifies as Holiday Lets
The furnished holiday lettings (FHL) rules allow holiday letting of properties that meet certain conditions to be treated as a trade for specific tax purposes.
In order to qualify as an FHL, the
Community Investment Tax Relief scheme
The Community Investment Tax Relief (CITR) scheme is designed to encourage investment in accredited Community Development Finance Institutions (CDFIs). The tax relief under the scheme is available to
Replacement of domestic items relief
The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental property. The
VAT Capital Goods Scheme
The VAT Capital Goods Scheme (CGS) is a means of spreading the initial VAT recovery in respect of certain assets over either 5 or 10 years. The scheme seeks to agree a fair and reasonable attribution
Charity Trustees Quiz
The Charity Commission has launched the next phase of its trustee campaign which aims to increase charity trustees’ knowledge and drive a positive change in charities’ governance.
The campaign
Help for businesses launching new AI
Organisations across the country will be able to demonstrate that their new artificial intelligence and digital innovations meet regulatory requirements so they can quickly bring them to market.
In
Activities subject to the scope of VAT
There are a number of conditions that must be satisfied for an activity to be within the scope of UK VAT.
An activity will fall within the scope of VAT when all the following conditions are
Tax on incentive rewards
Companies may use incentive award schemes to encourage their employees in various ways. For example, to sell more of their own goods and services. The award can be in forms including cash, vouchers or
Utilising Capital Gains Tax losses
Usually, if you sell an asset for less than you paid for it you would make a capital loss. As a general rule, if the asset would have been liable to CGT had a gain taken place, then the loss should be
No gain – no loss transfers in groups of companies
There are special rules concerning the transfer of assets in groups of companies. In most cases, this means that where assets are moved around group companies, there are no immediate capital gains
