In this month’s tidbits Finance Act 2020 received Royal Assent and various guidance has been updated.

• Finance Act 2020 received Royal Assent on 22 July 2020;
• Use updated form IHT35 to claim relief when you sell ‘qualifying investments’, that were part of the deceased’s estate at a loss within 12 months of the date of death;
• The guidance on the patent box regime has been updated;
• Use the GAAR Advisory Panel opinion on reducing an estate’s value via subscription for shares in a new company and gifting shares to an employee succession trust to help you recognise abusive tax arrangements;
• The contact details for calling or writing to HMRC for tax advice if you’re a non-UK resident entertainer or sportsperson who performs or competes in the UK have been updated; and
• The guidance on the structures and buildings allowance has been updated.