Tax Tips and News
Axe falls on tax benefits for Furnished Holiday Lets
Newsletter issue – September 2024 The Government has published a policy paper confirming the abolition of the Furnished Holiday Lettings (FHL) tax regime. It will mean that property investors will no longer get the existing tax benefits of FHLs from next April. The previous Conservative government had unveiled plans to scrap it in the Spring…Read More
Are we going back to the future for CGT?
Newsletter issue – September 2024 In 1989, Conservative Chancellor Nigel Lawson decided to change the rules around Capital Gains Tax so that it was applied at whatever the taxpayer's marginal rate was. It remained that way all the way through to 2008. Since that point it has been tinkered with various times – by both…Read More
Digital platform rules: new guidance ahead of first report deadline
Newsletter issue – September 2024 In four months' time, the first reports are due for compliance with the new Digital Platform Reporting rules. The regime, introduced on 1 January this year, requires UK digital platforms to collect and report income information for sellers using their platforms. The first reports must be submitted before the end…Read More
UK and Ecuador announce tax treaty
Newsletter issue – September 2024 The Government has published details of a new tax treaty with Ecuador. The UK and Ecuador signed their first comprehensive double tax treaty on 6 August. Once ratified, it will affect taxation on income and gains between the two countries. It will mainly cover UK income tax, corporation tax and…Read More
September Questions and Answers
Newsletter issue – September 2024 Q: I'm interested in investing in a startup and I’ve heard about the Seed Enterprise Investment Scheme. I'm considering investing £30,000 in a company that qualifies this tax year. What tax relief can I expect? A: You're right in identifying that The Seed Enterprise Investment Scheme (SEIS) may be helpful…Read More
September Key Dates
Newsletter issue – September 2024 1st New advisory fuel rates for company cars take effect 6th Final deadline for businesses for filing P11Ds for employees 19th For employers operating PAYE, this is the deadline to send an Employer Payment Summary (EPS) to claim any reduction on what you’ll owe HMRC 22nd Deadline for employers operating…Read More
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