Specialist Tax Regulatory Materials
HMRC has published its bi-monthly magazine providing the latest information on payroll-related topics for employers and agents.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Transfer of assets to beneficiaries 鈥� legal, administration and tax issuesThis guidance note outlines how assets are transferred to beneficiaries and the tax consequences that flow from the transfer. Whether a payment is income or capital is discussed in the Payments to trust beneficiaries guidance
Timing of disposal for capital gains taxDate of disposalThe date of the disposal determines the period in which the gain is subject to capital gains tax (CGT). When the rates of CGT change, the determination of the date of disposal can also affect the rate of CGT that applies to the gain.See the
Married couple鈥檚 allowanceThe married couple鈥檚 allowance (MCA) is only available if one of the two spouses or civil partners was born before 6 April 1935. This means that one member of the couple must be at least 89 years old on 5 April 2024 to qualify for an allowance in the 2023/24 tax year.There
Year-end tax planning