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
Capital Allowances Manual
Updated: CA20025
This guidance on capital allowances for plant and machinery for furnished holiday letting (FHL) businesses has been updated. The updates explain that the FHL rules are being repealed and state that a FHL business is no longer a qualifying activity for plant and machinery allowances from April 2025. A business that would previously have been classified as a FHL business will instead be classified as a property business and will be subject to the exclusion for plant and machinery for use in a dwelling house. There is also new guidance on the transitional rules relating to this...
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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
Capital Allowances Manual
Updated: CA20025
This guidance on capital allowances for plant and machinery for furnished holiday letting (FHL) businesses has been updated. The updates explain that the FHL rules are being repealed and state that a FHL business is no longer a qualifying activity for plant and machinery allowances from April 2025. A business that would previously have been classified as a FHL business will instead be classified as a property business and will be subject to the exclusion for plant and machinery for use in a dwelling house. There is also new guidance on the transitional rules relating to this...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
