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New HMRC guidance

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HMRC has published the following:

  • Factsheet CC/FS42: Penalties for transactions connected with VAT fraud: explains the penalties HMRC may charge where, after 16 November 2017, taxpayers have entered into transactions they knew, or should have known, were connected with missing-trader fraud;
  • Agent Update 66: bi-monthly round-up of the latest developments in tax, HMRC service and consultations for accountants and tax professionals;
  • Employment-related securities bulletin 29: includes articles on annual returns, SAYE temporary postponement of contributions, EMI working time declarations; and common errors;
  • Publishing a large business tax strategy: expanded guidance on the requirement for qualifying large businesses to publish a tax strategy for financial years starting after 15 September 2016;
  • Company tax return guide: updated with clarifications and corrections for completion of the company tax return CT600 (2018);
  • Help to Save: updated to confirm that payments of universal credit do not form part of household income for the purposes of assessing eligibility for the Help-to-Save scheme; and
  • VAT cost sharing exemption (CSE) manual: updates during June include confirmation that HMRC’s review of the treatment of ‘directly necessary’ non-business services is continuing, following four recent ECJ decisions.
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