Replacement Domestic Item relief
The wear and tear allowance that allowed landlords to reduce the tax they paid on furnished property lets was withdrawn at the end of the 2015-16 tax year. The 10% deduction was available to landlords
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Finance Act 2017 receives Royal Assent, but with provisions omitted
The Finance Bill received Royal Assent on 27 April 2017 to become the Finance Act 2017. However, as it was fast-tracked through the legislative process to receive Royal Assent before Parliament was
Companies House – anti-money laundering changes
Companies House have announced that from 26 June 2017, changes will be made to UK anti-money laundering measures to help prevent money laundering and terrorist financing. The changes will increase the
Worldwide Disclosure Facility
The Worldwide Disclosure Facility (WDF) was launched in September 2016 and is open to anyone who wants to disclose a UK tax liability that relates wholly or partly to an offshore issue. An offshore
Finance Bill receives Royal Assent
The Finance Bill 2017 officially known as Finance (No. 2) Bill received Royal Assent on 27 April 2017 following agreement by both Houses on the text of the Bill. The Bill is now an Act of Parliament
Criminal Finances Act
The Criminal Finances Bill received Royal Assent on 27 April 2017 and is now known as The Criminal Finances Act 2017. The new Act gives law enforcement agencies greater powers to recover the proceeds
Late filing of Self Assessment tax returns
Taxpayers that have not yet filed their 2015-16 Self Assessment returns will have already been charged an automatic £100 penalty for late submission. The penalty applied from 1 February 2017, even if
Lost your National Insurance number?
Taxpayers who have lost or forgotten their National Insurance number should first try and locate the number on paperwork such as their tax return, payslip or P60. If the National Insurance number
Update on Finance Bill 2017
Following the Prime Minister’s unexpected announcement that there will be a snap general election on 8 June 2017, Parliament will now be dissolved on 3 May 2017. After this date, no further
Non-Resident Landlords Scheme
The Non-Resident Landlord (NRL) Scheme is a special scheme for the UK rental income of Non-Resident Landlords. This includes companies or trustees whose 'usual place of abode' is outside the UK. As a