Extra statutory concession D49 (ESC D49) is the catchy title for an exception given to those who are looking to take advantage of the Principal Private Residence tax relief on gains made when disposing of a residential property. A recent case highlighted how the taxman will deal with applications for this relief in certain circumstances.
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The law never stands still, and the way it applies to you and your organisation is constantly evolving. Our people are on top of these developments and can keep you up to date with some of the most interesting aspects of these changes. Check out our articles and updates for our perspective on issues that might affect you.
Latest articles from Amber Heron
With the General Election fast approaching, changes to Entrepreneurs Relief is the latest proposed tax reform set out in leading parties' manifestos.
Taxpayers are being urged to check their online accounts after the First-tier Tax Tribunal upheld penalties for the late filing of a self-assessment tax return. If you need further help with your self-assessment tax return, please contact our Tax Department.
The Office of Tax Simplification (OTS) has recommended major changes to the current Lifetime Gifts rules. Currently, residents domiciled in the UK have an IHT threshold of £325,000 and are allowed to gift £3000 tax free to another individual in every tax year, with additional gift categories also allowed. Here we look at the proposals to change this system.
It has emerged that HMRC are experiencing a computer glitch concerning Self-Assessment Payments on Account for 2018/19. The result for some people will be that the tax payable in January could be three times as much as you would normally be asked to pay at that time of the year.