HMRC corrects advice given on tax relief for boiler repairs
[ad_1] In 2023, HMRC issued a letter stating that boiler upgrades did not constitute a repair. However, HMRC is now contacting affected taxpayers acknowledging that this advice was incorrect. HMRC is set to issue a correction letter to wealthy taxpayers and their agents who received a letter from HMRC about property income and repairs in 2023. […]
Government aims to raise tax advice standards
[ad_1] The government is exploring options to raise standards in the tax advice market through a strengthened regulatory framework. The government has published a consultation on options to strengthen the regulatory framework in the tax advice market and require tax advisers to register with HMRC, if they wish to interact with HMRC on a client’s […]