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Agent Update 104

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HMRC’s latest Agent Update covers recent developments, including:

  • Basis period reform: noting that the changes for transitional year 2023/24 will affect self-assessment tax returns due by 31 January 2025, and also pointing out that the delayed introduction of making tax digital for income tax self-assessment does not affect the basis period reform timelines.
  • Transfer of assets abroad: new guidance on the transfer of assets abroad legislation (International Manual at INTM600000 onwards) replacing existing guidance and providing greater detail on the application of the legislation.
  • Settling a CT61 debt: new guidance advising how to settle a CT61 debt by the issue of funding bonds.
  • Form FB12: the authorise a tax agent to use PAYE and construction industry scheme (CIS) online services (FBI2) form is being taken out of circulation. All relevant information can now be found in the revised authorising your agent 64-8 form that was introduced in March 2022.
Issue: 1604
Categories: News
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