NEWS

The Income Tax (Accommodation Allowances of Armed Forces) Regulations, SI 2024/76, update the income tax exemption for accommodation allowance payments made to members of the armed forces so that it applies to the accommodation allowance paid under...

The Income Tax (Indexation of Blind Person’s Allowance and Married Couple’s Allowance) Order, SI 2024/84, increases the blind person’s allowance and married couple’s allowance for 2024/25 in line with CPI inflation. The new amounts are as...

The National Minimum Wage (Amendment) Regulations, SI 2024/75, bring work undertaken by a worker who lives in their employer’s home and is treated as part of the family within the scope of the national minimum wage with effect from 1 April 2024. This...

HMRC have updated Notice 700/2 on VAT groups, with changes relating to late-payment and late-submission penalties and the group application process. Key changes include the following:a new section discussing the interaction between VAT group changes...

HMRC have published new guidance on when and how to appeal against penalties for late filing of self-assessment tax returns or late payment of tax. This is basic guidance aimed at individual taxpayers, but nevertheless makes a number of important...

HMRC opened more than 1,000 COP8 and COP9 investigations in the year to 31 March 2023, reports Pinsent Masons, with some 3,300 investigations in progress, in total. The 417 new COP9 investigations into the most serious suspected tax evasion cases,...

Tax Journal thanks its authors for January 2024.

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

EY’s 2024 international tax and transfer pricing survey of 1,000 executives at large companies across 47 jurisdictions reveals that 84% of respondents expect a ‘moderate or significant’ risk of double taxation as a result of global tax reform, with...

HMRC have issued new guidance on the audio-visual expenditure credit and video games expenditure credit which qualifying companies are able to claim from 1 January 2024 onwards. The audio-visual expenditure credit replaces the existing film, high-end...