In brief: 21 November 2024

Penalties

Finance Act 2021 (Schedule 26 Second Penalty Assessments) (Appointed Day: Regulation Making Power) Regulations SI 2024/1132 appoint 12 November 2024 as the day on which FA 2021 Sch 26 comes into force for the purpose of making regulations under para 16(2).

tinyurl.com/si20241132

Let property campaign

HMRC’s let property campaign guidance has been amended to provide further information about who is affected by the campaign and how to notify HMRC.

tinyurl.com/hmrclpcampaign

Basis period reform

HMRC has updated its guidance on using the transition profit calculator. It confirms that the calculator cannot be used if the business is a partnership and partnerships can use it for partnership trading profits only.

tinyurl.com/hmrcbprtransition

Platform operators

The Platform Operators (Due Diligence and Reporting Requirements) (Amendment) Regulations SI 2024/1082 amend SI 2023/817 to ensure that where there is a UK platform operator information about sellers who are resident in...