NEWS

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.  

Speaking recently with Tax Journal, the Exchequer Secretary to the Treasury James Murray addressed speculation over a potential reduction of the UK Digital Services Tax (DST) to facilitate a trade deal with the United States. Murray pointed out that...

In the latest issue (130) of HMRC’s Agent Update, HMRC announced a U-turn on their approach to historic reporting company nominations required for corporate interest restriction (CIR) returns. HMRC have now published details of their approach in...

The CIOT has sought to clarify the application of the going concern rules in the context of intra-group transfers of trade, where such transfers do not occur within the accounting period for which an R&D claim is being made. HMRC have confirmed to...

At Autumn Budget 2024, the Government announced that it would launch a consultation in early 2025 on the tax treatment of pre-development costs. However, following the recent Court of Appeal judgment in Orsted West of Duddon Sands (UK) Ltd and others...

HMRC have published the annual update to the VAT road fuel scale charge amounts, as required under the VAT (Flat-rate Valuation of Supplies of Fuel for Private Use) Order, SI 2013/2911, articles 5–7. Businesses should use the new scale charge amounts...

HMRC’s tax investigations into the UK’s largest businesses now last an average of 45 months, according to research by Pinsent Masons, with around half of the approximately 2,000 largest businesses covered by HMRC’s ‘Large Business Service’ in the UK...

The respective Heads of the judiciary and Senior President of Tribunals have issued updated guidance for ‘all judicial office holders’ under their responsibility, on the use of artificial intelligence, covering key risks and issues associated with...

HMRC have published new guidance on main and supporting agents for MTD for income tax self-assessment purposes. The new guidance notes that sole traders and landlords within MTD for ITSA can appoint multiple agents, and distinguishes between the...

HMRC’s new factsheet Automatic Exchange of Information obligations: CC/FS46 covers penalties for failures by financial institutions to comply with their automatic exchange of information obligations – including failures to file returns and failures...