NEWS

HMRC have updated its guidance on the additional information a company needs to send to HMRC to support their research and development (R&D) tax relief claims, and when and how to submit that information. The guidance confirms that agents submitting...

The Designation of Special Tax Sites (Humber Freeport) Regulations, SI 2024/71, designate areas in Humber as freeport tax sites with effect from 13 February 2024. Tax reliefs available in freeport tax sites include stamp duty land tax relief on...

The CIOT has published a discussion paper on whether a UK-resident individual shareholder of a non-UK resident company should declare, on their personal tax return, UK rental income received by the non-UK company. Although HMRC would expect that to...

HMRC’s Pension Schemes Newsletter 155 (January 2024) leads with the further changes (i.e. full abolition) to the pensions lifetime allowance, as introduced in Finance Bill 2024 Sch 9. Although the legislation now seems likely to be enacted in its...

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,...