Features and articles from ICAEW on taxation related to the taxation of properties in the UK tax regime.
The Welsh government is consulting on several changes to land transaction tax, including the abolition of multiple dwellings relief.
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It seems a long time ago that the consultation on the taxation of environmental land management schemes was launched. The consultation period ended in June and, after what must have been considerable contemplation, a response was issued within the appendices to the March 2024 Budget.
This month’s top stories include Spring Budget announcements, HMRC halting the decision to restrict helplines, and more guidance on the lifetime allowance abolition.
In 2023, HMRC issued a letter stating that boiler upgrades did not constitute a repair. However, HMRC is now contacting affected taxpayers acknowledging that this advice was incorrect.
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In a ‘back-to-basics’ webinar, Richard Jones provided an introduction to the business rates system in England, the compliance obligations the system places on businesses and the reliefs available to mitigate rates liabilities in a variety of business sectors.
Highlights from the broader tax news for the week ending 20 March 2024, including: HMRC’s framework for large businesses; new secondary legislation applying across a range of areas, including the off-payroll rules; maps of investment zones; and updated guidance on genuine HMRC contact.
The Spring Finance Bill contains legislation which increases the thresholds for the high income child benefit charge and abolishes multiple dwellings relief for SDLT.
From April 2025, taxpayers will no longer be able to treat their property business as a furnished holiday let (FHL). Stamp duty land tax multiple dwelling relief (SDLT MDR) will be abolished from 1 June 2024.
As promised in the Autumn Statement, the Chancellor used the Spring Budget 2024 to announce a suite of tax relief changes to incentivise and support growth in the UK’s creative sector.
An extension of full expensing to leases is welcome news for businesses in a Budget that delivers nothing unexpected.