Specialist Tax Regulatory Materials
Details of updates to HMRC import, export and customs guidance for the period from 11 December 2023 to 18 December 2023.
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
Winding up a trust 鈥� legal, administrative and compliance issuesOverviewWhen winding up a trust, there are legal formalities and compliance issues that need to be dealt with, as well as IHT and CGT consequences that flow from the termination. This guidance note considers when and how a trust comes
Entity classificationImplications of entity classificationIf a subsidiary is established, it is important to determine how it will be treated for UK tax purposes as this will determine the basis on which it is taxed. A subsidiary may either be transparent (like a partnership, where the individual
Autumn Budget 2024