Examples when settlement legislation does not apply

The settlement legislation seeks to ensure that where a settlor has retained an interest in property in a settlement that the income arising is treated as the settlor’s income for tax purposes. A settlor can be said to have retained an interest if the property or income may be applied for the benefit of the settlor, a spouse or civil partner. In general, the settlements legislation can apply where an individual enters into an arrangement to divert income to someone else and in the process, tax
What is plant and machinery?

Capital allowances are the deductions which allow businesses to secure tax relief for certain capital expenditure. HM Treasury has published a factsheet on the super-deduction offering companies a 130% first-year tax relief from 1 April 2021 until 31 March 2023. The factsheet also covers the enhanced first year allowance of 50% on qualifying special rate assets has also been introduced for expenditure within the same period. This includes most new plant and machinery investments that ordinarily
Range of supplies affected by VAT reverse charge

The VAT domestic reverse charge accounting mechanism was put in place to help prevent criminal attacks on the UK VAT system by means of sophisticated fraud.
The domestic reverse charge procedure applies to the supply and purchase of the certain specified goods and services.
The specified goods that the reverse charge applies to are:
mobile phones
computer chips
wholesale gas
wholesale electricity
The specified services are:
emission allowances
wholesale telecommunications
End of SSP Rebate Scheme

The Coronavirus Statutory Sick Pay Rebate Scheme has allowed small and medium-sized businesses and employers reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. The online service initially closed for new claims after 30 September 2021.
However, following the Omicron wave, the online claims service was brought back in mid-January with firms becoming eligible to make backdated claims under the scheme from 21 December 2021.
The scheme covers up to 2 weeks’ SSP per
Claiming for business use of own car or van

If you are an employee, you may be able to claim tax relief for using your own vehicle, be it a car, van, motorcycle or bike. There is generally no tax relief for travel to and from your place of work. The rules are different for temporary workplaces where the expense is usually allowable and if you use your own vehicle to undertake other business-related mileage.
Employers usually make payments based on a set rate per mile depending on the mode of transport used. There are approved mileage
Latest on COVID restrictions in England

The government has published its latest guidance on COVID restrictions and specifically on the new phase we have entered of ‘Living with COVID-19’. This has effectively moved the country into a new phase of living with COVID and marked the end of legal restrictions in England (since 24 February).
These changes include the removal of the legal requirement to self-isolate although adults and children who test positive continue to be advised to stay at home and avoid contact with other people in