Specialist Tax Regulatory Materials
HMRC has published a new guidance page on how to report profit on the Self Assessment tax return for 2023-24 if the self-employed or partnership business accounting year does not end on or between 31 March to 5 April.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
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
Incentives, awards and prizesIntroduction 鈥� incentives, awards and prizesEmployers may use a variety of methods to reward and encourage employees in their work. These are commonly known as incentives, awards or prizes. For the purposes of this note, the term 鈥榓ward鈥� will be used to cover all
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