NEWS

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...

HMRC are consulting until 9 April 2024 on reforms that would address the difference in CGT treatment when a commercial or residential property is refinanced using alternative rather than conventional finance methods. Comments are also invited on the...

HMRC have brought together its collection of guidance on the self-assessment tax return in a new, single landing page. Various existing guidance notes can be accessed from the landing page, which is well worth bookmarking for future reference....

The following HMRC guidance has been updated to reflect the implementation of the new Social Security Coordination Convention between the UK and Iceland, Liechtenstein, and Norway:Paying social security contributions if you're coming to work in the...

HMRC have updated its VAT Notice 700/56 (insolvency). Key changes include the following:information on the default surcharge has been removed from section 4 and the paragraphs have been renumbered accordingly;information on the repayment supplement...

The OECD has published public comments received on the proposed changes resulting from the work by Working Party 1 on Tax Conventions and Related Questions with a view to developing an alternative provision for inclusion in the Commentary on Article...

Zambia has become the 171st member of the Global Forum on Transparency and Exchange of Information for Tax Purposes. Zambia also joins the OECD’s Africa Initiative. Gaël Perraud, Chair of the Global Forum, said: ‘Zambia’s decision underlines the...

The CIOT has raised a number of points in response to HMRC’s consultation on the draft Income Tax (Digital Requirements)(Amendment) Regulations 2024 which will introduce many of the changes to Making Tax Digital announced at Autumn Statement 2023....

New regulations simplify the process of updating the UK’s list of ‘high-risk’ countries in respect of which businesses are obliged to conduct enhanced due diligence for anti-money laundering purposes. Those requirements apply in relation to any...

Items to note from HMRC’s latest update include:Horizon Shortfall Scheme top-up payments: a reminder that, where top-up payments are not made ‘in good time’ for the recipient to file a self-assessment tax return by 31 January 2024, no late-filing or...