NEWS

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

The Bureau of Investigative Journalism (TBIJ) and the Observer reported recently on the fall in HMRC’s civil investigations into tax fraud. According to figures obtained by the TBIJ via a freedom of information request, HMRC’s Fraud Investigation...

In something of a fast-moving development, HMRC have confirmed that double-cab pickups will continue to be treated as vans rather than cars. HMRC had issued guidance in its Employment Income Manual on 12 February 2024 to revise the treatment of...

HMRC have issued new guidance on calculating transition profit for 2023/24, for taxpayers affected by the move to the new tax year basis.The guidance covers the following:identifying the ‘standard’ and ‘transition’ parts of the basis period (HMRC...

HMRC have published the 2024/25 version of CWG2 – its guidance for employers on PAYE and NICs. CWG5 on Class 1A NICs on benefits in kind, termination payments and sporting testimonial payments is also updated for 2024/25. The section on using...

HMRC’s Employer Bulletin for February 2024 includes various topical updates including:non-cash incentive schemes for employees, provided by a third-party (taxed award schemes);the 2024 NICs rate changes, with links for employers who were unable to...

HMRC’s lifetime allowance guidance newsletter for February 2024 covers the following:answers to frequently asked questions on topics including lump sums, reporting requirements, overseas transfer allowance, protections and enhancement factors, and...

In a Parliamentary written answer, Nigel Huddelston has acknowledged the impact of delayed processing times for form A1 applications – the process of applying for evidence showing that an individual remains under the UK NICs system while working...

HMRC has published various new guidance pages on the VAT Import One Stop Shop (IOSS) scheme:Check if you can register for the VAT Import One Stop Shop Scheme: provides information about the VAT IOSS scheme and registering to report and pay VAT due on...

The OECD Inclusive Framework has published a report on Amount B of Pillar One and has added content from the report into the OECD Transfer Pricing Guidelines. The OECD provides the following context: ‘Drawing from existing principles in the OECD...