Specialist Tax Regulatory Materials
The CIOT has responded to the proposed 鈥業nterpretation of VAT and excise legislation鈥� draft Finance Bill measures, which are intended to carve-out specific rules for how VAT and excise legislation should be interpreted in light of the changes made by the.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Payment of tax due under self assessmentNormal due dateIndividuals are usually required to pay any outstanding income tax, Class 2 and Class 4 national insurance, and capital gains tax due for the tax year by 31 January following the end of the tax year (ie 31 January 2025 for the 2023/24 tax year).
Holdover relief for disposals by trusteesOverviewWhere a capital gain has been realised on an asset that has been disposed of and that disposal was not for full value (that is not in an arm鈥檚 length sale) then holdover relief may be available. This will happen when trustees appoint capital assets
VAT registration 鈥� artificial separation of business activities (disaggregation)This guidance note should be read in conjunction with the VAT registration 鈥� compulsory guidance note and is relevant to persons established or resident in the UK. Persons that are not established or resident in the UK
