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Latest Trusts and Inheritance Tax News

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CIOT response: Raising standards in the tax advice market - strengthening the regulatory framework and improving registration

The CIOT has responded to the HMRC consultation on Raising standards in the tax advice market - strengthening the regulatory framework and improving registration.

30 May 2024 00:00 | Published by a Tolley Corporation Tax expert

CIOT response: Public Accounts Committee (PAC) inquiry into HMRC customer service

The CIOT has submitted written evidence to the PAC’s inquiry into HMRC customer service.

29 May 2024 00:00 | Published by a Tolley Corporation Tax expert

CC/FS83 - Compliance checks: Corresponding with HMRC electronically

HMRC has published a new factsheet about corresponding with HMRC electronically using email or Dropbox, including the risks involved.

23 May 2024 00:00 | Published by a Tolley Corporation Tax expert

Agent update: issue 120

HMRC has published Agent Update issue 120 (15 May 2024) providing a round-up of recent developments and changes to legislation and allowances relating to UK tax for tax agents and advisers.

15 May 2024 18:30 | Published by a Tolley Corporation Tax expert

National Audit Office Report: HMRC customer service

The National Audit Office (NAO) has published a report that examines the extent to which HMRC is well-placed to provide the services that taxpayers need within its planned resources.

15 May 2024 00:00 | Published by a Tolley Corporation Tax expert

CIOT response: The Tax Administration Framework Review: enquiry and assessment powers, penalties, safeguards

The CIOT has published its respons to the HMRC call for evidence on the Tax Administration Framework Review: enquiry and assessment powers, penalties, safeguards.

10 May 2024 00:00 | Published by a Tolley Corporation Tax expert

CIOT comments: Draft legislation: Improving the data HMRC collects from its customers

The CIOT has commented on the draft legislation on improving the data HMRC collects from its customers.

07 May 2024 00:00 | Published by a Tolley Corporation Tax expert

SI 2024/574, The Special Tax Sites (Applicable Sunset Date) Regulations 2024

These Regulations extend the applicable sunset date for special tax sites.

01 May 2024 00:00 | Published by a Tolley Corporation Tax expert

Updated policy paper on changes to taxation of non-UK domiciled individuals

HM Treasury has published details of upcoming listening events on the reform of the tax regime for non-UK domiciled individuals announced at Spring Budget 2024.

24 Apr 2024 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Tax Administration and Maintenance Day: 18 April 2024

At Tax Administration and Maintenance Day on 18 April 2024, the UK government launched consultations on the impact of the Uber VAT decisions and a new administrative requirement for employers in freeport and investment zone tax sites, committed to publishing further detail on options to tackle umbrella company non-compliance, and set out its intention to consult on VAT relief for low-value goods donated to charity.

18 Apr 2024 00:00 | Published by a Tolley Corporation Tax expert

Agent update: issue 119

HMRC has published agent update: issue 119 (17 April 2024) providing a round-up of recent developments and changes to legislation and allowances relating to UK tax for tax agents and advisers.

18 Apr 2024 00:00 | Published by a Tolley Corporation Tax expert

CIOT update on the Pandora Papers

The CIOT has advised that, following continued risking of the Pandora Papers data, a further tranche of letters is being issued by HMRC to some wealthy individuals from the week commencing 8 April 2024, and they will include an extended response period of 60 days.

15 Apr 2024 00:00 | Published by a Tolley Corporation Tax expert

New HMRC guidance on IHT calculations

HMRC has issued new guidance on how to work out the number of quarters when inheritance tax is charged on a trust for certain chargeable events.

28 Mar 2024 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

HMRC Trusts and Estates Newsletter: March 2024

HMRC has published its Trusts and Estates Newsletter for March 2024.

27 Mar 2024 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

HMRC reverses decision to cut taxpayer helplines

HMRC has confirmed that proposals to reduce the availability of several taxpayer helplines have been put on hold.

20 Mar 2024 00:00 | Published by a Tolley Corporation Tax expert

Finance (No 2) Bill 2024 published

Finance (No 2) Bill was published on 13 March 2024.

14 Mar 2024 00:00 | Published by a Tolley Corporation Tax expert

Spring Budget 2024: key tax announcements

The 6 March 2024 Spring Budget announced a further 2 percentage point cut in NICs for employees and the self-employed, although the income tax thresholds remain frozen. The government is also consulting on potential regulation of the tax advice market.

06 Mar 2024 00:00 | Published by a Tolley Corporation Tax expert

Scottish Parliament approves the Scottish Budget

The Scottish Parliament has approved the 2024-25 Scottish Budget.

28 Feb 2024 00:00 | Published by a Tolley Corporation Tax expert

SI 2024/182 The Post Office and Victims of Overseas Terrorism Compensation Scheme (Tax Exemptions and Relief) Regulations 2024

These Regulations provide for exemptions from income tax and capital gains tax (CGT) for payments made under three compensation schemes.

23 Feb 2024 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Finance Act 2024 received Royal Assent on 22 February 2024

Royal Assent to the Finance Act was notified in the House of Lords on 22 February 2024

22 Feb 2024 00:00 | Published by a Tolley Corporation Tax expert

Popular Articles

Allowable deductions for employee-related expenses

Allowable deductions for employee-related expensesThis guidance note covers the tax treatment of some common types of trading expenditure relating to employees. Some of these are disallowable under general principles, for example the wholly and exclusively test or capital versus revenue expenditure.

14 Sep 2022 09:49 | Produced by Tolley Read more Read more

Married couple’s allowance

Married couple’s allowanceThe married couple’s allowance (MCA) is only available if one of the two spouses or civil partners was born before 6 April 1935. This means that one member of the couple must be at least 89 years old on 5 April 2024 to qualify for an allowance in the 2023/24 tax year.There

14 Jul 2020 12:13 | Produced by Tolley Read more Read more

Foreign self-employment

Foreign self-employmentTrading in another jurisdiction involves many issues, only some of which involve taxation. Advice should be taken, not only in relation to tax but on the wider business implications. For an overview of the points to consider for certain jurisdictions see Tolley's Global

14 Jul 2020 11:44 | Produced by Tolley Read more Read more