NEWS

HMRC have published new guidance on abolition of the furnished holiday lettings tax regime from April 2025. The guidance provides ‘clarification’ on some of the common issues that had been raised during the consultation on the draft legislation which...

Bonus rates for Save As You Earn (SAYE) schemes have been adjusted, following the cut to the Bank of England base rate to 4.75%. For SAYE contracts taken out on or after 22 November 2024, the bonus rate for five-year contracts is reduced to 2.7%...

HMRC’s latest Pension Schemes Newsletter (October 2024) summarises the following announcements made at Autumn Budget 2024 relevant to pensions taxation: extending inheritance tax to pension death benefits: unused pension funds and death benefits...

The Treasury has issued the following two Orders, both of which come into force on 3 December 2024, enabling two named public bodies to claim refunds of VAT on their non-business activities:the Value Added Tax (Refund of Tax to the East Midlands...

The Economic Crime and Corporate Transparency Act 2023 (Commencement No 3) Regulations, SI 2024/1108, bring ss 199–206 of, and Sch 13 to, the Act fully into force across the UK on 1 September 2025. These provisions include the new offence of failing...

HMRC are to update their interest rates for late payments and overpayments of most taxes, following the recent Bank of England decision to reduce the base rate to 4.75%. Based on the existing method for calculating the HMRC rates (as provided by SI...

HMRC have published a new paper setting out areas of particular interest in terms of future research which would underpin work to address ministerial strategic priorities for the Department. In other words, evidence to support initiatives to improve...

The NFUs president, Tom Bradshaw, has demanded that the new IHT APR rules be withdrawn and put to consultation, with the agricultural industry and Defra experts rejecting Treasury claims that 72% of farms will not be paying IHT under the new...

HMRC have published the following new RD guidance notes:Work out your Research and Development tax relief: including calculating the payable expenditure credit for the relevant tax year; Check what Research and...