Draft legislation published for some Spring Budget measures
[ad_1] The Spring Finance Bill contains legislation which increases the thresholds for the high income child benefit charge and abolishes multiple dwellings relief for SDLT. Finance (No. 2) Bill 2024 has been introduced into Parliament. The Bill sets the rates of income tax for 2024/25 and the rates of corporation tax for financial year 2025 […]
Spring Budget 2024: the measures you missed
[ad_1] ICAEW’s Tax Faculty scans the Spring Budget documents for other tax-related announcements that didn’t make the headlines. ICAEW’s Tax Faculty covered all the major Spring Budget measures on the day. This includes: A selection of other announcements is included below. It is expected that Spring Finance Bill 2024 will be introduced shortly. Tax administration […]
Spring Budget 2024: measures for business
[ad_1] As promised in the Autumn Statement, the Chancellor used the Spring Budget 2024 to announce a suite of tax relief changes to incentivise and support growth in the UK’s creative sector. Enhanced tax credit for British films The budget also promised a new enhanced audio-visual expenditure credit that will apply to films with a […]
Trust transparency measures ‘need more thought’
[ad_1] ICAEW urges the government to rethink its approach on improving transparency for land-holding trusts. 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 your online CPD […]
House of Lords reports on Finance Bill measures
[ad_1] House of Lords agrees with the Tax Faculty recommendation that the start date for merged scheme for R&D tax relief should be delayed. 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 […]
Government responds to three consultations on customs measures
[ad_1] The responses set out next steps on measures to simplify customs import and export processes for traders. HMRC has announced a range of measures intended to simplify customs processes to reduce the administrative burden on business. This includes responses to consultations conducted earlier this year on: Introducing a voluntary standard for customs intermediaries In […]
Measures to tackle business rates avoidance and evasion
[ad_1] The consultation focuses on proposed changes to prevent abuse of empty property relief and the “next in use” exemption involving charities and community amateur sports clubs (CASCs). It also asks for evidence relating to other rates avoidance and evasion behaviour including the existence of “rogue agents” that promote such behaviour. Following an announcement at […]
ICAEW supports measures to address carbon leakage risk
[ad_1] ICAEW’s response focuses on reducing the potential administrative burdens associated with introducing a carbon border adjustment mechanism and mandatory product standards. ICAEW has responded, in ICAEW REP 57/23, to the government’s consultation, Addressing carbon leakage risk to support decarbonisation. For the purposes of the consultation, carbon leakage is defined as the movement of production […]
Key measures in Spring Finance Bill 2023
[ad_1] The Finance (No. 2) Bill 2022/23 includes Spring Budget announcements such as the full expensing first-year capital allowance, abolition of the pension lifetime allowance charge and investment zones. While the government has already consulted on several of the clauses in Finance (No.2) Bill 2022-23, in draft legislation released on 20 July 2022, many of […]
Budget for growth: ICAEW’s Tax Faculty assesses key measures
[ad_1] ICAEW’s Tax Faculty summarises the key tax announcements from the Chancellor’s Budget speech, including pension and capital allowance reforms. Chancellor Jeremy Hunt’s Spring Budget on 15 March announced some fundamental tax changes for individuals and businesses. More details are expected when the Finance Bill is published on 23 March. There may be a flurry […]