HMRC has published the following:
Gift with reservation of benefit
Business property relief and livery business
Partnership not trading
This was the chancellor’s much-anticipated ‘last statement before Brexit’ and many of the predicted tax-raising measures failed to materialise.
HMRC is consulting until 25 January 2019 on restricting companies’ carried-forward capital losses to 50% of the capital gains arising in an accounting period, with effect from 1 April 2020. An anti-forestalling measure will have effect on and after Budget day on 29 October 2018.
The government’s ‘Flag It Up’ campaign, which has been encouraging solicitors and accountants since 2014 to file suspicious activity reports where they suspect money laundering, is being extended to the property sector, with support from HMRC in its role as a supervisor of estate agency businesse
HMRC has appointed Alan Evans as its new general counsel and solicitor, who will formally take up the role on 1 January 2019.