Tax implications for the bank of mum and dad

With property prices expected to fall during 2023, parents may be thinking about getting their children onto the property ladder. However, although help with a deposit does not raise that many tax issues, joint ownership can have expensive tax consequences. Nearly half of first-time property buyers aged under 35 have received help from the bank … More Tax implications for the bank of mum and dad

Making Tax Digital delayed once more

With the self-employed and landlords facing a challenging economic environment, the government has again delayed the introduction of the Making Tax Digital (MTD) scheme for income tax self-assessment (ITSA) – this time by two years until April 2026. Although the introduction of MTD ITSA prompted the basis period reform, no corresponding postponement for this has … More Making Tax Digital delayed once more