Specialist Tax Regulatory Materials
Finance Bill 2022 will be considered at Report Stage in the House of Commons on 2 February 2022. The government has proposed a number of amendments which are expected to be approved at this final stage for changes.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Temporary differencesCalculation of temporary differencesThe temporary difference arising in respect of an asset or liability is calculated by comparing the carrying value of that asset or liability with its tax base.IAS 12 uses the concept of taxable or deductible temporary differences. Whether a
Exemption 鈥� insurance 鈥� overviewThis guidance note provides an overview of the VAT treatment of insurance products and should be read in conjunction with the Insurance 鈥� specific transactions and Exemption 鈥� insurance 鈥� brokers and agents guidance notes.Is insurance exempt from VAT?Supplies of
Capital allowances on carsSummary of capital allowances on carsThe current capital allowance rates applicable to cars are as follows:Pool typeDescription of carRateLegislationMain rate poolNew and unused cars with CO2 emissions of 50g/km and below 18%CAA 2001, s 104AASecondhand cars with CO2
Autumn Budget 2024