Retaining an interest in a gift

by | Apr 27, 2023 | HMRC notices | 0 comments

The settlements legislation is contained in s.624 ITTOIA 2005. The legislation seeks to ensure that where a settlor has retained an interest in property in a settlement that the income arising is treated as the settlor’s income for all tax purposes. A settlor...

The Let Property Campaign

by | Apr 20, 2023 | HMRC notices | 0 comments

The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any outstanding liabilities whether due to misunderstanding the tax rules or...

Properties not let at commercial rates

by | Feb 23, 2023 | HMRC notices | 0 comments

There are special rules where a property is let at less than a commercial rate or isn’t let on commercial terms. These rules also apply if a property is occupied rent free or at less than a commercial rate, for example, a property is occupied by a family member...

Moving goods to and from Northern Ireland

by | Feb 16, 2023 | HMRC notices | 0 comments

There are special procedures for moving goods in and out of Northern Ireland. Under the Northern Ireland Protocol, all Northern Ireland businesses continue to have access to the whole UK market.  HMRC lists the following six-steps that should be considered before...

Five more tax avoidance schemes named by HMRC

by | Jan 26, 2023 | HMRC notices | 0 comments

HMRC has powers introduced in the Finance Act 2022 to name tax avoidance schemes and their promoters. Under this legislation HMRC can name avoidance scheme promoters, publish details of the way they promote tax avoidance schemes and name the schemes they promote. This...