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
Added: BIM72067
Added new guidance on transitional adjustments which (subject to exceptions) generally permit any remaining unrelieved expenditure on assets that are in any capital allowances pool at the end of the period before a business starts using the cash basis to be a deduction in the first year of the cash basis so that the pool is reduced to zero.
Updated: BIM70000
Guidance on cash basis updated to refer to the Finance Act 2024 changes to the cash basis for tax years 2024-25 onwards and to provide a link to BIM72005-BIM72073 for more information.
Employment Income Manual ...
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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
Added: BIM72067
Added new guidance on transitional adjustments which (subject to exceptions) generally permit any remaining unrelieved expenditure on assets that are in any capital allowances pool at the end of the period before a business starts using the cash basis to be a deduction in the first year of the cash basis so that the pool is reduced to zero.
Updated: BIM70000
Guidance on cash basis updated to refer to the Finance Act 2024 changes to the cash basis for tax years 2024-25 onwards and to provide a link to BIM72005-BIM72073 for more information.
Employment Income Manual ...
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:
