Weekly tax highlights ― 25 November 2024

Produced by a Tolley Owner-Managed Businesses expert

Owner-Managed Businesses

Guidance

Direct taxes

Pensions (Abolition of Lifetime Allowance Charge etc) (No 3) Regulations, SI 2024/1167

These Regulations make further consequential changes as a result of the abolition of the pensions lifetime allowance.

These Regulations make further changes to the substantive pensions legislation (mainly FA 2004 Schedules 29 and 36) in consequence of the abolition of the lifetime allowance. The changes have effect for the 2024–25 tax year onwards.

See Simon’s Taxes E7.215A.

Indirect taxes

Private school fees and VAT treatment of therapy services

HMRC has updated its guidance on the VAT treatment of payments linked to private school fees to cover supplies of therapy services which are provided in addition to supplies of education.

In an important addition to its guidance on the VAT treatment of payments linked to private school fees, HMRC has provided new notes and examples covering situations where pupils receive therapy services in addition to education.

The new section ‘supplying special educational needs and disabilities (SEND) therapies and education’ notes that, where services performed by registered healthcare professionals (such

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