NEWS

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...

The UK, US, Austria, France, Italy and Spain have agreed an updated joint statement on the transition away from unilateral digital services taxes while discussions on Pillar One continue. This means that the ‘interim period’, during which new...

The Registrar of Companies (Fees) (Register of Overseas Entities) Regulations, SI 2024/153, increase the fees charged in respect of the register of overseas entities. The Regulations come into force on 1 May 2024....

The Council of the EU have removed The Bahamas, Belize, Seychelles and Turks and Caicos Islands from its list of non-cooperative jurisdictions for tax purposes. The EU list now consists of 12 jurisdictions: American Samoa, Anguilla, Antigua and...

HMRC are consulting on potential changes to its enquiry and assessment powers, and related penalties and safeguards. The consultation considers the following ‘reform opportunities’ in relation to HMRC’s enquiry and assessment powers:adoption of a...

HMRC have published responses to its consultation Simplifying and modernising HMRC's Income Tax services through the tax administration framework.In summary, HMRC intends to bring in new legislation to allow certain communications with taxpayers to...

In February 2024 Treasury Minutes, the UK government has responded to various points raised by the Public Accounts Committee (PAC) in relation to the making tax digital programme. Alongside setting out various tasks already underway and reiterating...