HMRC manual changes: 10 January 2025

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

Direct taxes

Manual	Page	Comments
Business Income Manual	Updated: BIM81300	The guidance on the ‘Treatment of losses arising from the deduction of overlap profits from transitional profits’ (allowed and made pursuant to Schedule 1 to the Finance Act 2022) has been updated to state that any resulting losses are ‘available for loss relief in the normal way for example against general income under section 64 of the Income Tax Act 2007’.
Business Leasing Manual	Updated: BLM51025	Guidance on the finance lease test for various purposes has been redrafted following recent updates to FRS 102.
	Updated: BLM50005 BLM50010 BLM51005...

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This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

Direct taxes

Manual	Page	Comments
Business Income Manual	Updated: BIM81300	The guidance on the ‘Treatment of losses arising from the deduction of overlap profits from transitional profits’ (allowed and made pursuant to Schedule 1 to the Finance Act 2022) has been updated to state that any resulting losses are ‘available for loss relief in the normal way for example against general income under section 64 of the Income Tax Act 2007’.
Business Leasing Manual	Updated: BLM51025	Guidance on the finance lease test for various purposes has been redrafted following recent updates to FRS 102.
	Updated: BLM50005 BLM50010 BLM51005...