Specialist Tax Regulatory Materials
HMRC has updated its guidance on creating digital records for MTD for income tax.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Income tax losses 鈥� overviewIncome tax losses can arise due to a number of reasons, but not all losses can be relieved against total income and some losses can only be set against certain types of component income. The table below is a summary of the main reliefs for income tax losses.Summary of
Self assessment 鈥� estimates and provisional figuresIf the taxpayer does not have sufficient information to enable them to complete the tax return in the time allowed, they should include either a best estimate or a provisional figure. The taxpayer should not either leave a box blank or enter
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
