NEWS

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

Tax Journal thanks its authors for July:

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

HMRC have published their annual report for 2023/24 which states that the total tax revenues for that year were 843.4bn, the highest on record (and a 3.6% increase on those for 2022/23). The increase is said to reflect the freezing of income...

Chancellor Rachel Reeves has confirmed that she will deliver her first Budget on 30 October 2024. In her speech to the House of Commons on 29 July 2024, reporting on the Treasurys recent assessment of the state of public spending, the...

HMRC have updated their guidance on signing up clients for Making Tax Digital for Income Tax Self-Assessment to confirm that, where a client has multiple sources of income, agents should sign up each income source separately....

The Horizon Convictions Redress Scheme and Horizon Shortfall Scheme Fixed Sum Award (Tax Exemptions and Relief) Regulations, SI 2024/818, exempt two new compensation payments from income tax, CGT and corporation tax, and provide relief from...

HMRC have produced basic guidance which it says is to be used by stakeholders to provide information to pensioners on simple assessments. The guidance covers what simple assessments are, why HMRC uses them and what pensioners need to do...

The ATT is calling on HMRC to clarify the rules around the tax-free provision of nursery places by an employer to its employees using a salary sacrifice scheme. The ATT has been made aware of employers being approached by promoters offering...

The OECD has published the following reports:Bringing tax transparency to cryptoassets an update;Beneficial ownership and tax transparency implementation and remaining challenges;Taxation and inequality; andStrengthening...