May 25, 2021 | Personal Tax
The Office for Tax Simplification (OTS) is calling for an overhaul of how capital gains tax (CGT) is reported. The report is the second of its kind, looking at ways to simplify the practical, technical and administrative issues surrounding CGT as requested by...
Apr 29, 2021 | Personal Tax
HMRC has begun sending out 2.5 million annual renewal packs to tax credit claimants for the next six weeks. Recipients should check their details in the packs and report any changes to HMRC so they "don't miss out on money they are entitled to". Possible circumstances...
Apr 8, 2021 | Business TaxPersonal Tax
The Chartered Institution of Tax and Institute of Chartered Accountants of Scotland (ICAS) want "a devolved tax system that is sustainable and fit for purpose". The two tax bodies made the recommendations in response to a poll which found 26% of Scots were "not aware...
Apr 1, 2021 | Personal Tax
A temporary increase to the threshold for land and buildings transaction tax (LBTT) on residential properties in Scotland has come to an end as of 1 April 2021. The threshold for LBTT had been increased to £250,000 during the pandemic, but has now returned to its...
Mar 31, 2021 | Personal Tax
Investors in cryptoassets have received further clarity on the tax treatment of their unregulated investments, as HMRC published new and updated guidance on the topic. Cryptoassets, as defined by the tax authority, are "cryptographically secured digital...
