New measures to tackle promotion of tax avoidance
HMRC has published a series of a consultations together with details of proposed legislative changes to existing anti-avoidance regimes to strengthen HMRC’s ability to
HMRC to gain new civil information powers
A new measure that will provide HMRC with additional civil information powers is expected to take effect when the Finance Bill 2020-21 receives Royal Assent. The new measure known
Making Tax Digital next steps
HM Treasury has confirmed the extension of Making Tax Digital (MTD) to cover businesses with a turnover below the VAT threshold and for certain individuals who file Income Tax
Lifetime ISA rules changed
The Lifetime ISA allows those aged between 18 and 40 to save for a new home or for their retirement. Under the scheme, the government provides a 25% bonus on yearly savings of up
Gift Aid for cancelled charity events
HMRC has published new guidance on the scheme for charities that have had events cancelled due to coronavirus.
The Gift Aid scheme allows charities or Community Amateur Sports
Tax-Free Childcare scheme
The Tax-Free Childcare Scheme (TFCS) is open to all eligible families with children under 12. It was announced as part of the Budget measures that a service improvement will be
Junior ISAs
Junior ISAs were introduced to encourage parents to save money for their children and to provide an alternative to the Child Trust Funds (CTF) that were only available to children
Tax treatment when transferring income streams
Special rules apply to transfers of income streams. The rules make it clear that the sale of an income stream – designed to turn economic income into a return that is treated by
Property rental income and bad debt
In most cases, property rental income must be brought into account in the year in which the income was earned, even if the invoice has not yet been paid. However, a deduction is
A reminder – badges of trade
The 'badges of trade' tests, whilst not conclusive, are used by HMRC to help determine whether an activity is a proper economic / business activity or merely a money-making