Specialist Tax Statutory Instruments
This聽Order聽brings into effect a Convention and Protocol (the聽鈥�2024聽Arrangements鈥�) made by聽the聽Governments of聽the聽UK and聽Ecuador.聽The聽2024聽Arrangements are a聽Double聽Taxation聽Agreement (DTA) for聽the聽avoidance of聽double聽taxation聽on income and gains from cross-border activity. (Updated from draft on 20 December聽2024.).
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Outright giftsAn outright gift is the most straightforward type of gift. It simply involves the outright transfer of property from one person to another with no conditions attached.This type of gift is most suitable for clients who want to pass over modest amounts, or give to responsible and capable
Gifts out of surplus incomeA valuable exemption from inheritance tax (IHT) applies to gifts out of surplus income. This exemption applies only to lifetime gifts and is therefore a key part of lifetime planning. The exemption applies to both outright gifts and gifts into trust. Gifts which meet the
Furnished holiday letsThis guidance note sets out the qualifying conditions for a property let to be treated as a furnished holiday let (FHL) for tax purposes and the subsequent tax implications.Whether or not a property qualifies as an FHL can make an important difference to the taxation
