NEWS

HMRC have confirmed, as reported by the CIOT and the ATT, that taxpayers who included SA109 pages in their 2024/25 self-assessment return will be treated as automatically temporarily exempt from Making Tax Digital for Income Tax Self-Assessment until...

HMRC have published a technical consultation on draft secondary legislation for the Carbon Border Adjustment Mechanism (CBAM) covering emissions and verification. The consultation seeks comments on draft regulations that will come into effect on 1...

HMRC have published guidance and an online tool to help apportion the £2.5m allowance for agricultural property relief (APR) and business property relief (BPR) across qualifying assets. The tool allows taxpayers and advisers to calculate how the...

HMRC have published Guidelines for Compliance (GfC18) on determining the VAT place of supply of services in the oil and gas sector. The guidelines are aimed at VAT-registered businesses in the sector and set out HMRC’s recommended approach to...

HMRC research indicates low awareness and understanding of e-invoicing among UK SMEs, with confusion over what constitutes e-invoicing remaining widespread. The Chancellor confirmed at last year’s Budget that e-invoicing will be required from April...

Synthesised texts for the UK’s double taxation conventions with Armenia and Senegal, as modified by the Multilateral Instrument, have been published The Armenia changes take effect from 1 January 2024 for withholding taxes, and from 1 April 2025...

HMRC have published guidance and an online tool that can be used to confirm that loans to participators reported on a company tax return have been fully repaid. The tool is intended for use where HMRC ask a company to verify that loans to...

HMRC have issued a factsheet for taxpayers on what to do if served with an Anti-Avoidance Information Notice (AAIN). It sets out the legal obligations imposed on the recipient if asked to provide information, and the penalties for non-compliance. A...

The CIOT has urged the next Welsh government to prioritise accountability and good governance in the Welsh tax system ahead of the Senedd election. In a letter to party spokespeople, the Institute sets out four areas for action: adopting a structured...

HMRC have updated their company tax return guidance for claiming any of the creative industry reliefs via the new CT600P supplementary form. The guidance deals in turn with each relief and sets out the information that needs to be submitted. ...