The Chartered Institute of Taxation has welcomed a report by the Office of Tax Simplification (OTS)1 - written at the Chancellor’s request and published today - that highlights flaws with capital gains tax.
HMRC’s Wealthy External Forum have issued a briefing to forum members regarding a ‘One to Many letter’ in relation to errors in the declaration of residential property disposals for CGT in 2018/19 SA returns.
Normal politics were on hold at the online Conservative Party Conference, with shortened speeches and curtailed policy debate. The Chancellor committed himself to putting the “overwhelming might of the British state” at the service of struggling businesses and workers, but said that the books would need to be balanced eventually. On the fringe, and in media interviews and reports, there are clues as to which taxes are likely to rise.
A live blog of the fourth public bill committee sitting of Finance Bill 2020 (also known as Finance Bill 2019-21), which took place on Tuesday 9 June 2020 from 2pm. Clauses passed covered increases in the rate of the Research and Development Expenditure Credit (RDEC), and of Structures and Buildings Allowances; changes to the tax treatment of some intangible fixed assets; the Enterprise Investment Scheme (EIS) and 'top slicing relief'.