Specialist Tax Regulatory Materials
The OECD has published a new report highlighting the crucial role of tax transparency and the exchange of information (EOI) in helping African governments to stem illicit financial flows and increase domestic resource mobilisation.
Jurisdiction(s): World
Transferable tax allowance (also known as the marriage allowance)What is the transferable tax allowance (marriage allowance)?From 6 April 2015, an individual can elect to transfer 10% of the personal allowance (拢1,260) to the spouse or civil partner where neither party is a higher rate or additional
Carried-forward losses restrictionOverview of the carried-forward loss restrictionAn important restriction in the use of losses carried forward was introduced by Finance (No 2) Act 2017. Subject to a de minimis of 拢5m (known as the deductions allowance), most carried-forward losses are restricted to
Corrections and amendments to the IHT accountThis guidance note explains how to deal with changes to the taxable values in the original inheritance tax account.Why do amendments arise?When the IHT account is first submitted to HMRC, it is based on information available at an early stage of the
