Ten year anniversary of major trust changes approaching

Last Updated: 31 August 2023

March 2006 saw a major change in the tax treatment of trusts, and as we head towards the tenth anniversary of this change many trusts created since then will have reporting obligations and potential IHT liabilities to consider for the first time.

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Hotel, B & B or just a FHL?

Last Updated: 31 August 2023

In Julian Nott v HMRC [2015] TC04897 the First Tier Tribunal (FTT) decided that the letting of holiday units was different to operating a B & B or a hotel and so did not amount to a trade for the purposes of NICs or sideways loss relief.

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New Company Register

Last Updated: 31 August 2023

New companies are being duped into paying for an online directory listing by a webservice that displays a coat of arms that is not unlike that of Companies House.

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HMRC: Agent Update February 2016

Last Updated: 31 August 2023

HMRC have issued their Agent Update for February 2016: we have summarised the key content for you with links to our detailed guidance on the topics covered.

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LTRG why is the Savings Allowance so complex?

Last Updated: 31 August 2023

The Government’s new savings allowance is an excellent idea but needlessly complex in its implementation says the Low Incomes Tax Reform Group (LITRG).

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Self-employment review

Last Updated: 31 August 2023

Julie Deane, CEO of the Cambridge Satchel Company, has made ten recommendations along with her self-employment review, which was commissioned by David Cameron in July last year.

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  1. CIS: reliance on accountant not a reasonable excuse
  2. EBTs' exclusion from the LDF was fair
  3. Quick consultation: proposals to require agents to write to clients on HMRC’s behalf
  4. Another doctor's travel and subsistence claim fails
  5. Fee paid to avoid tax partner's bankruptcy: disallowed

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