Property not let at commercial rates

Property not let at commercial rates

There are special rules that apply when a property is let at less than a commercial rate or is not let on commercial terms. These rules also apply if a property is occupied rent free or at less than a commercial rate, for example, a property is occupied by a...
Implementation of the loan charge

Implementation of the loan charge

HMRC has published further guidance on the implementation of the loan charge and has made clear there will be no special settlement terms. This follows an independent review earlier this year into whether the loan charge was an appropriate way of dealing with loans...
HMRC to gain new civil information powers

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 as a Financial Institution Notice (FIN) will be used to require financial...
Making Tax Digital next steps

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 Self-Assessment tax returns. This announcement provides much-needed clarity of the way...
Lifetime ISA rules changed

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 to £4,000 and once you start saving before you are 40, you can continue using the...