Specialist Tax Statutory Instruments
These Regulations amend Income Tax (Exemption for Coronavirus Related Home Office Expenses) Regulations 2020 (SI 2020/524) to extend the exemption from income tax for amounts reimbursed to an employee for expenses that the employee has incurred in obtaining home office equipment to enable home working necessitated by the coronavirus outbreak.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Allowable expenses for property businessesGeneral itemsMany of the principles applying to allowable expenses for property businesses are similar to those that apply for trading and the rules for individuals in a property business are generally the same as for companies with some exceptions which are
Gilts鈥楪ilts鈥� are securities that are also known by a number of different names (eg gilt-edged securities, Government securities or treasury stock).The Government sells gilts to fund the deficit between public spending and tax receipts. Normally, the Government pays interest to the holder of the gilt
Furnished holiday letsThis guidance note sets out the qualifying conditions for a property let to be treated as a furnished holiday let (FHL) for tax purposes and the subsequent tax implications.Whether or not a property qualifies as an FHL can make an important difference to the taxation
Tax Returns