NEWS

US taxpayers living and working outside the US have until 17 June to file their 2023 federal income tax return and pay any amount due, the IRS has warned. This automatic extension applies to US citizens and resident aliens abroad, including those...

Fiji and Moldova have joined the OECD/G20 Inclusive Framework on BEPS. Both countries have also committed to addressing the tax challenges arising from the digitalisation of the economy by participating in the Two-Pillar solution to reform the...

Responding to the Public Accounts Committee’s inquiry into HMRC customer service, the CIOT has repeated its concerns around standards of support for taxpayers.In its written evidence to the Public Accounts Committee’s inquiry into HMRC customer...

The CIOT response to HMRC’s consultation on raising standards in the tax advice market examines the three options for regulation rather than looking at the merits of regulation versus alternative approaches. Key points include:general support for...

HMRC could have missed out on millions of pounds in tax from football transfers, says the CIOT.Football agents brokering transfers can offer their services to both players and the selling or buying club, known as ‘dual representation’. However, the...

The Retained EU Law (Revocation and Reform) Act 2023 (Commencement No 2 and Saving Provisions) Regulations, SI 2024/714, bring into force the Retained EU Law (Revocation and Reform) Act 2023 s 6, which amends s 6 of the European Union (Withdrawal)...

HMRC’s Wealthy team are sending letters to those who made a BADR claim in their 2022/23 returns and in doing so either exceeded the £1m lifetime limit in that year, or who had already done so prior to 2022/23. Recipients are being invited to...

The Courts and Tribunals Judiciary has published guidance by way of practice direction from Sir Keith Lindblom, Senior President of Tribunals, outlining the reasons for tribunal decisions. Key points include:providing concise reasons for a decision...

The May 2024 newsletter covers various subjects including the following:Transitional tax-free amount certificates: HMRC have published a tool for pension scheme members to check if they can apply for a transitional tax-free amount certificate from...

Tax Journal thanks its authors for May (click on links below to view author profiles):Ross Birkbeck - The post-election (anti-avoidance) enforcement landscapeVictoria Braid - Individual DPAsHelen Buchanan and Sarah Bond - A Kwik decision from the...