Sinclair Day

March 4, 2020

Zero-rating supplies of building materials

The VAT treatment of land and property is one of the most complex areas of the VAT legislation. Under certain situations, supplies of building materials can be zero-rated or reduced-rated at 5% for VAT. For the supplies of building materials to be
March 4, 2020

Savings, dividends and total income

Savings income and dividends are taxed at the recipients' highest tax rate. The relevant legislation in ITA07/S16 sets out the following rules. If a person has savings income but no dividend income, the savings income is treated as the
March 4, 2020

Tax treatment when transferring income streams

Special rules apply to transfers of income streams. The rules make it clear that the sale of an income stream - designed to turn economic income into a return that is treated by tax law as capital - is unlikely to work. For example, shareholders
March 4, 2020

Help to Save scheme

The Help to Save scheme can assist those on low incomes to boost their savings. The scheme was launched in September 2018 and new figures just published by HMRC have revealed that over 163,000 people have signed up depositing more than £53