NEWS

The Value Added Tax (Increase of Registration Limits) Order, SI 2024/307, increases the VAT registration and deregistration thresholds from 1 April 2024 as follows:VAT registration threshold: £90,000; andVAT deregistration threshold: £88,000.The...

HMRC have updated VAT Notice 742A Opting to tax land and buildings. The Notice now reflects current practice that HMRC no longer sends an acknowledgement letter on receipt of an option to tax. Where notification of an option to tax is sent by email,...

The Treasury has launched a consultation which looks at the effectiveness of the UK’s principal anti-money laundering rules, the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations, SI 2017/692 (MLRs)....

To view the rates published at Spring Budget 2024, please click here....

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

Alongside the Spring Budget, the UK government has launched a further consultation on raising standards in the tax advice market. This follows previous consultations (March 2020 and March 2021) where the government considered various options,...

The new R&D tax relief regime in FA 2024 Sch 1 has formally been brought into effect for accounting periods beginning on or after 1 April 2024. The Finance Act 2024, Schedule 1 (Research and Development) (Appointed Day) Regulations, SI 2024/286,...

The CIOT has sent a proactive submission to HMRC on uncertainties in relation to the application of ESC D32 on the incorporation of a business, where an individual transfers the whole of the assets and liabilities to a company for consideration...

The Finance Act 2009, Sections 101 and 102 (Electronic Sales Suppression) (Appointed Day) Order, SI 2024/133, brought the FA 2009 ss 101 and 102 interest provisions into force from 4 March 2024, for the purposes of electronic sales suppression...

HMRC have revised their guidance on how to register a charity for tax, taxpayer’s obligations, and any reliefs or exemptions available. The guidance has been updated at section 3.45 Claiming Gift Aid on waived refunds and loan repayments to confirm...