On 19 December 2022, the government announced that Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) has been further delayed by two years and will now take effect from April 2026. The government recognises the challenging current economic environment, and that the transition to MTD for ITSA represents a significant change for […]

What is ATED? The annual tax on residential property owned by non-natural persons that are valued over £500,000 in the UK is known as the Annual Tax on Enveloped Dwellings (ATED). ‘Non-natural persons’ means the property is owned completely or partly by a company, a partnership with a corporate partner, or a collective investment scheme. […]

The Office of Tax Simplification (OTS) has issued its most recent and last ever report, ‘Hybrid and distance working: exploring the tax implications of changing working practices’. The main findings include a need for better guidance on existing reliefs and rules, plus a demand for a review of tax reliefs in this area.

We are delighted to announce haysmacintyre has been shortlisted for Best Tax Advisory Firm within the Service Provider category of the Hedgeweek European Awards 2023.

Stephen Patey and Phil Salmon explore the important upcoming change that property businesses and solicitors dealing in property transactions should be aware of, with HMRC confirming that with effect from 1 February 2023 they will no longer be issuing acknowledgement letters confirming that an option to tax notification has been submitted.

A brief look at the proposed Scottish Incomes Tax Rates for 2023/24, to take effect from 6 April 2023, and what this means for Scottish based employees.

The purpose of this article is to cover the possible income tax issues of holding a rental property in a trust.

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