Archive:September 2024

The Government has published a policy paper confirming the abolition of the Furnished Holiday
Lettings (FHL) tax regime.

It will mean that property investors will no longer get the existing tax benefits of FHLs from next April.

The previous Conservative government had unveiled plans to scrap it in the Spring Budget to help free up property stock and fund the National Insurance
cuts.

Published on 29 July, the documents set out confirmation of the move that was introduced in the Spring Budget in March under Rishi Sunak’s premiership.
The new Labour…

In four months’ time, the first reports are due for compliance with the new Digital Platform
Reporting rules.

The regime, introduced on 1 January this year, requires UK digital platforms to collect and report income information for sellers using their platforms.

The first reports must be submitted before the end of January 2025.

It’s all connected to the fact that the UK has signed up to the Organisation for Economic Development (OECD) Model Reporting Rules for Digital Platforms.

In recent weeks, HMRC published guidance for the rules around online marketplaces.

It has clarified…