24 July 2021
It is safe to say the fact that the UK income tax year ends on 5 April makes it unique internationally. It is also safe to say that this choice of year end creates all sorts of problems every year, and for this reason the Office of Tax Simplification (OTS) is looking at the possibility of changing the tax year end to something more closely aligned to other countries.
21 June 2021
Residential property developers have been targeted with a new tax on their profits, aimed at bringing an end to unsafe cladding on residential developments in the wake of the Grenfell Tower disaster. At a time when the Government is aiming to build more homes, will this reduce the number of investors in the sector?
18 February 2021
2020 has produced tax losses for many people: do you know how to use them?
20 November 2020
Airbnb has recently announced in that it is providing data for the 2017/18 and 2018/19 tax years to HMRC, identifying people letting out property and their rental income receipts. This is likely to bring a number of renters to HMRC’s attention for the first time, which could create problems if their tax affairs are not up to date.
18 September 2020
In July, the Chancellor wrote to the Office of Tax Simplification (OTS) asking it to, ‘to undertake a review of capital gains tax (CGT) and aspects of the taxation of chargeable gains in relation to individuals and smaller businesses.’ In response, the OTS has been gathering evidence, asking for detailed comments to be submitted by 12 October 2020.