NEWS

The latest HMRC Pension scheme newsletter 164 summarises the following announcements made in the autumn budget:unused pension funds and death benefits payable from a pension will form part of a person’s estate for IHT purposes from 6 April 2027 and...

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.  

Chancellor Rachel Reeves delivered her first Budget on 30 October 2024. Together with the headline increase in employer NICs, the Chancellor’s changes to CGT rates and reform of IHT reliefs are expected to impact on businesses, with carried interest...

HMRC have drawn attention to an avoidance scheme which purports to use limited liability partnerships to disguise employment income. Spotlight 66 Limited Liability Partnerships arrangements used to disguise employment income highlights a tax...

HMRC have issued new basic guidance to help taxpayers check whether they need to declare property income. The guidance links to a new interactive tool which can be used to check the position in various common rental scenarios, and also covers income...

The Welsh government has published the draft Land Transaction Tax (Relief for Special Tax Sites) (Wales) Regulations 2024 which (assuming they are approved) will formally set out the relief from land transaction tax for qualifying transactions of...

The Social Security (Scotland) Act 2018 (Disability Assistance) (Consequential Modifications) Order, SI 2024/1048, makes various changes to existing legislation to reflect the introduction of Pension Age Disability Payment (PADP) which is to replace...

The government of Jersey has announced that, for accounting periods starting on or after 1 January 2025, in-scope Jersey companies and branches of multinational groups will pay an effective rate of 15% on their Jersey profits under the new...

The OECD Secretary-General Tax Report to the G20 in Brazil sets out developments in international tax reform since July 2024, including on Pillars One and Two. The report says that the text of the Multilateral Convention for Pillar One has...

HMRC have decided to disband the Joint Forum on Expatriate Tax and NICs (the Expat Forum), informing members that the groups effectiveness has reduced with an increasingly long list of unresolved issues and suggesting that many...