HMRC has launched a consultation ‘Tax Simplification for Alternative Finance’. This explores proposals to address the difference in Capital Gains Tax (CGT) treatment when property is refinanced using alternative, rather than conventional, finance methods.
SME Tax News
In Bandstream Media and Corporate Communications Limited v HMRC [2024] TC09016, the First Tier Tribunal (FTT) found that an employer could not base its Coronavirus Job Retention Scheme (CJRS) claims on a salary which was increased after 19 March 2020, and in lieu of dividends.
Hello
The ITV drama 'Mr Bates v the Post Office' has been gripping the nation and causing more than a stir in the press. More details will emerge on the Post Office's and Fujitsu's failed accounting and computer systems as the government’s inquiry re-opens. We have every sympathy for victims of the Post Office and its Horizon computer system.
The Welsh government has announced that a statutory registration and licensing scheme for all visitor accommodation in Wales will be introduced.
The Department for Levelling Up, Housing & Communities has opened 'Consultation on timescales for repairs in the social rented sector' on Awaab's Law with cost implications for private landlords.
For over twenty years more than 700 sub-postmasters were wrongly prosecuted for fraud by the Post Office. In January 2024 the Government announced a 'mass exoneration' to clear their criminal convictions and agreeing to make an upfront payment of £75,000 in extra compensation.
HMRC's latest One-To-Many letter campaign targets landlords claiming tax relief on high levels of repair costs.
Happy New Year!
We start the year with last minute tips for Self Assessment and a new Agent Update; noting that the Spring Budget is set for 6 March and that a new condoc considers transparency for land-holding trusts.
The Chancellor, Jeremy Hunt, has announced that he will present his Spring Budget on Wednesday 6 March 2024. HM Treasury is inviting representations for the budget, from stakeholders.
HMRC have issued their Agent Update for December 2023. We have summarised the key content for you with links to our detailed guidance on the topics covered.