NEWS

New regulations make changes as a result of the removal of the requirement to pay Class 2 NICs, and the decision to treat those with earnings above the small profits threshold as though they had actually paid the contributions (for the purpose of...

The Annual Tax on Enveloped Dwellings (Indexation of Annual Chargeable Amounts) Order, SI 2024/379, sets out the Annual Tax on Enveloped Dwellings (ATED) chargeable amounts for chargeable periods beginning on or after 1 April 2024.The bands (based on...

The Individual Savings Account (Amendment) Regulations, SI 2024/350, update the principal ISA Regulations, SI 1998/1870, to make the following key changes with effect from 6 April 2024:individuals will be able to subscribe for more than one ISA of...

The Pensions (Abolition of Lifetime Allowance Charge etc) Regulations, SI 2024/356, amend Finance Act 2024 Sch 9 with the intention of ensuring the new legislation, which abolished the lifetime allowance and made wide-ranging consequential changes,...

The Landfill Disposals Tax (Tax Rates) (Amendment) and Tax Collection and Management (Wales) Act 2016 (Miscellaneous Amendments) (Wales) Regulations, SI 2024/367, provide the following rates of landfill disposals tax for taxable disposals made on or...

The European Commission has launched a consultation to review the implementation of the Directive on Tax Dispute Resolution Mechanisms or DRM (Directive (EU) 2017/1852). New rules came into force on 1 July 2019 that sets out the EU’s framework to...

HMRC have confirmed that cuts to taxpayer helplines, that were to have been introduced on a permanent basis from 8 April 2024, have been put on hold. The original announcement of proposed cuts had been made on Tuesday 19 March. On 20 March, in a very...

The National Insurance Contributions (Reduction in Rates) (No. 2) Bill passed all remaining stages in the House of Lords on 19 March 2024 without debate. According to the House of Lords calendar, ‘Royal Assent’ was due to be given at 3pm on Wednesday...

HMRC are consulting until 9 May 2024 on two sets of draft regulations which will introduce the following additional information requirements from 6 April 2025.The Income Tax (Pay As You Earn) (Amendment) (No *) Regulations 2024 will require employers...

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