NEWS

HMRC has issued new basic guidance on how to make a voluntary disclosure of unpaid tax on income or gains from cryptoassets. The guidance is based around self-declaration that the underpayment resulted from:innocent error, where reasonable care was...

HMRC has updated Chapter 3 (gift aid) of its detailed guidance notes on how the tax system operates for charities to clarify that cryptoassets must be converted into money before donations are eligible for gift aid. The guidance notes that HMRC does...

HMRC has published the latest advisory fuel rates for business travel in company cars (or for use where employers require their employees to repay the cost of fuel used for private travel). The updated amounts apply for travel from 1 December 2023...

Broadly, full relief from stamp duty land tax (SDLT) is available for various land transactions within special tax sites in freeports and investment zones. This is part of the suite of tax reliefs that are designed to encourage investment in those...

HMRC has confirmed via its Expat Forum that it is withdrawing postal application forms for three certificates of coverage from 1 December 2023. These are forms used to apply for a certificate which confirms that an individual is paying UK NICs. The...

In its response to HMRCs review of priorities for the UKs double tax treaties for 2024/25, the CIOT have called for HMRC to continue to prioritise renegotiation of the European double tax agreements that were lost when the UK left the...

The change to MTD income tax for self assessment is on a larger scale and level of complexity to MTD for VAT, according to a recent Public Accounts Committee report, which HMRC has ‘completely underestimated’, and its poor delivery of the programme...

Tax Policy Associates has published new data (in conjunction with WeThink, part of polling agency Omnisis) suggesting that a majority of the public believe that, after the Autumn Statement changes, they will pay less or the same amount of tax as they...

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

At Autumn Statement 2023 the UK government announced that, from 2024/25 onwards, the cash basis will be the default method for calculating business profits for self-employed traders and those in partnerships. The accruals basis will still be...