Monthly Tax Update - February 2025

Objectives

To update delegates on recent and proposed changes in taxation that are relevant to their clients.

Key topics

LEGISLATIVE ROUNDUP – SPRING 2025

• Spring Statement and Economic Outlook

CAPITAL GAINS

• CGT rates and annual exemption
• Date of disposal for CGT – getting on the right side of the line
• Transitional provisions – CGT anti-forestalling
• Efficient CGT computations
• HMRC hot topic – BADR lifetime allowance

EMPLOYMENT TAX

• Independent review of the loan charge
• EBT decision set aside due to error of law
• PAYE Settlement Agreements

BUSINESS TAX DEVELOPMENTS

• Making Tax Digital for Income Tax
• Online Marketplaces – new reporting requirements

CORPORATION TAX

• Loans to participators
• Annual Tax on Enveloped Dwellings (ATED)
• VAT
• Interesting VAT cases

EMPLOYEE OWNERSHIP TRUSTS (EOTS)

• Introduction
• What’s changing?

ADMINISTRATION

• HMRC Data
• Late filing penalty easement

WHO SHOULD ATTEND

Accountants in general practice who advise on tax planning and compliance.