Media and politics

The Scottish Government has introduced legislation to the Scottish Parliament that will extend the period for eligible property buyers to claim a refund of the Additional Dwelling Supplement (ADS) of Land and Buildings Transaction Tax (LBTT).

Guest blog by Tarlochan Lall, Barrister, CTA (Fellow), Monckton Chambers

• The conditions for eligibility appear to be more stringent in comparison to the job retention scheme.  The latest revisions expose anomalies in the provisions.
• The framework for SEISS and its structure cast doubts over what entitlement it gives.  HMRC’s message appears to be we’ll contact you, don’t contact us.
• The lack of a dispute resolution mechanism creates issues for operators and HMRC alike.
• HMRC’s guidance needs to be further refined as issues remain.

A report by a House of Lords committee has called on the government to address the ‘inherent flaws and unfairnesses’ in the IR35 regime and has recommended it reviews its entire approach to its plans to extend off-payroll working to the private sector from next year.

The Finance Bill had its second reading in the House of Commons on Monday 27 April.  The Bill includes measures such as a Digital Services Tax, changes to the controversial Loan Charge and retaining corporation tax at 19 per cent (rather than implementing a previously legislated cut to 17 per cent). It makes some business reliefs more generous to encourage investment but introduces restrictions on the availability of two capital gains tax reliefs - entrepreneurs’ relief and private residence relief.