NEWS

The value of tax penalties reached £851m in 2022/23, up from £681m in 2021/22 according to accountancy group UHY Hacker Young. The firm suggests that penalties are seen as something of an ‘easy win’ for HMRC, given the high levels of outstanding tax...

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

HMRC have confirmed that, where Horizon Shortfall Scheme (HSS) 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 late-payment penalties (or interest) will be...

The CIOT reports recent changes to HMRC’s Capital Allowances Manual which confirm HMRC’s view that partnerships with corporate partners are able to claim capital allowances which are only available to companies within the charge to corporation tax....

The government has published its summary of responses to its consultation on modernising the UK’s domestic rules to transfer pricing, permanent establishment (PE) and diverted profits tax (DPT) to improve fairness and support growth. The government...

Following its pledge outlined in the Autumn Statement 2023 to put tax simplification at the heart of policy-making, the Financial Secretary to the Treasury, Nigel Huddleston, has set out some proposed tax simplification measures in a written...

HMRC are considering plans to introduce a new dedicated disclosure facility for R&D claims, according to the CIOT. This was part of the discussions at a meeting of HMRC’s R&D Working Group, which also covered improvements to how HMRC are processing...

Clause 34 of Finance Bill 2024 will add compliance with VAT obligations to the conditions for gaining and retaining gross payment status (GPS) under the construction industry scheme (CIS) from 6 April 2024. Alongside this change, HMRC have been...

Dan Neidles Tax Policy Associates (TPA) says that the Post Office has incorrectly claimed up to 934m in tax deductions in relation to compensation payments made to former branch managers and as a consequence, may have...

In its weekly tax brief, RSM floats the prospect of potential stamp duty land tax changes, designed to shore up the housing market in England and as part of pre-election giveaways in the current chancellor’s Spring Budget. Changes could include...