HMRC questions claims for CGT relief
In a repeat of a similar exercise relating to self assessment returns for 2022/23, HMRC is writing to taxpayers who claimed:
- investors' relief on their 2023/24 return and do not appear to meet the conditions of the relief; or
- business asset disposal relief and may have exceeded the lifetime limit in their 2023/24 tax return, or in a claim for an earlier year.
To find out more, read ICAEW's article on the earlier investors' relief and business asset disposal relief campaigns.
Negligible value claims
HMRC has updated its list of shares which have been declared as being worth negligible value. The list is now valid up to and including 30 November 2024.
Date set for spring forecast
The government has announced that the Office for Budget Responsibility will publish an economic and fiscal forecast on 26 March 2025. It will be accompanied by a statement to parliament from the chancellor. The government has confirmed that it remains committed to one major fiscal event per year.
International tax developments
CFE Tax Advisers Europe (CFE) has published its 2024 tax policy report. CFE says that the report “provides a detailed analysis of significant primary law and tax policy developments at both EU and international level that have occurred over the course of the year which would be of interest to tax advisers”.
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