Cryptoassets: new ICAEW guidance and government consultation
[ad_1] ICAEW’s Tax Faculty has published two TAXguides on the taxation of cryptocurrency. The government is consulting on the implementation of the Cryptoasset Reporting Framework. Cryptocurrency is a form of cryptoasset that makes use of a distributed ledger technology called blockchain. There are no specific UK tax rules for cryptocurrency, so existing provisions are applied to […]
Tax Faculty responds to LTT freeports consultation
[ad_1] The draft legislation may not give the Welsh government’s intended outcome for full and partial LTT relief for special tax sites. If this article is supporting your professional development, it can count towards your verifiable CPD hours. Use the pop up at the bottom right corner of your screen to add reading this article […]
Consultation on loss relief changes for building societies
[ad_1] The government is consulting on draft secondary legislation that applies to transfers of business by building societies. If this article is supporting your professional development, it can count towards your verifiable CPD hours. Use the pop up at the bottom right corner of your screen to add reading this article as an activity to […]
Consultation on tax simplification for alternative finance
[ad_1] The government has proposed changing the capital gains tax (CGT) rules to ensure that alternative finance arrangements are taxed in the same way as other arrangements. If this article is supporting your professional development, it can count towards your verifiable CPD hours. Use the pop up at the bottom right corner of your screen […]
ICAEW responds to latest MTD ITSA consultation
[ad_1] Amendments to the regulations and notices for making tax digital income tax self assessment (MTD ITSA) need to be set in the context of wider concerns about the programme. ICAEW’s Tax Faculty has responded to HMRC’s consultation on draft regulations for MTD ITSA and associated notices in ICAEW REP 08/24. As the current MTD ITSA […]
ICAEW responds to consultation on customs intermediaries
[ad_1] ICAEW is broadly supportive of a voluntary standard, but stressed that the interaction with current standards needs to be considered. In its response to HMRC’s consultation, ICAEW expressed broad support for the introduction of a voluntary standard for customs intermediaries to raise the quality and consistency of service across the sector, particularly in the […]
HMRC consultation on employee ownership and benefit trusts
[ad_1] Reforms to the tax treatment of EOTs and EBTs proposed in the paper are intended to focus the rules more effectively on the policy objectives of rewarding employees and encouraging more employee engagement. Another objective is to prevent tax advantages being obtained through the use of these trusts outside their intended purposes. The consultation […]
Consultation on share incentive schemes
[ad_1] HM Treasury is consulting on the non-discretionary tax-advantaged employee share schemes save as you earn (SAYE) and share incentive plan (SIP). The Treasury’s objectives for this call for evidence are to seek views, gather evidence on the current usage of these all-employee schemes, and determine whether they are effective in achieving their stated policy […]
Commission publishes responses to BEFIT consultation
[ad_1] The European Commission has published responses to the consultation on its proposals for a common set of corporate tax rules across member states, known as Business in Europe: Framework for Income Taxation (BEFIT). Responses to the BEFIT consultation will feed into the European Commission’s thinking around any proposals for common corporate tax rules. Adoption […]
Government publishes consultation on addressing carbon leakage
[ad_1] The consultation by HM Treasury and the Department for Energy Security and Net Zero includes proposals for a UK carbon border adjustment mechanism. On 30 March 2023, the UK government launched a consultation on addressing carbon leakage risk to support decarbonisation. Carbon leakage refers to businesses moving their operations overseas to countries with less […]