The following Owner-Managed Businesses guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
Finance Bill 2022 was published on 4 November 2021.
Running to 185 pages of substantive legislation, with 102 clauses and 16 Schedules, the Bill is available on the UK Parliament website. Formally known as ‘Finance (No 2) Bill’ (as the second Finance Bill this year within the same Parliamentary session), the Bill will become Finance Act 2022 following Royal Assent which is expected before the start of the 2022/23 tax year.
Explanatory Notes are also available alongside the Bill as usual (under the ‘Publications’ tab).
Second Reading of the Bill has been scheduled for 16 November 2021, following the House of Commons November recess (10 to 14 November).
To track the Finance Bill as it makes its way through the Parliamentary process, see Tolley’s Finance Bill Tracking Service, Finance Bill 2022.
HMRC is writing to taxpayers who claimed the first, second and / or third grants under the self-employment income support scheme (SEISS), and who either have yet to file their tax return for 2019/20 or have not yet completed the self-employment or partnership pages.
The letter advises taxpayers to file their 2019/20 returns or complete the relevant pages within 30 days. HMRC will then check their eligibility for the SEISS grant(s) claimed. The letter is not being copied to agents but suggests that recipients show the letter to their tax adviser if they have one.
The Treasury has issued the following Regulations which designate various locations as freeport
**Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason.
Access this article and thousands of others like it free for 7 days with a trial of TolleyGuidance.
Read full article
Already a subscriber? Login
Liability of the personal representativesAfter a person’s death, the property of the deceased is vested in the personal representatives (PRs) to enable them to manage and distribute the estate in accordance with the Will or the terms of intestacy. See the Personal representatives guidance note.The
Introduction to the regimeThe aim of the patent box regime is to provide an incentive for companies to develop and retain patents and other qualifying intellectual property within the UK as part of the Government’s growth agenda. Finance Act 2012 originally introduced the legislation governing the
This guidance note provides an overview of the basic principles of inheritance tax, when it is charged and how it is calculated. It contains links and references to other parts of the module where more details can be found.Transfers of valueInheritance tax is based on the concept of a transfer of
Restriction of carry forward and carry back of trading lossesFollowing the extensive changes to the loss carry forward provisions introduced from 1 April 2017, the anti-avoidance rules restricting the offset of trading losses following a change in ownership were tightened up and extended.