NEWS

The United Nations’ tax sub-committee is considering revising Article 15 of the UN Model tax convention to address the reduction of the tax base in the country where an employer is based, when an employee is carrying out their duties in another...

The CIOT has submitted two more representations to the Treasury ahead of the 22 November 2023 Autumn Statement:Tax treatment of cryptoassets: the CIOT proposes that cryptoassets should be recognised and dealt with expressly in legislation across the...

New HMRC statistics show that the total number of new trust registrations in the 12 months to 31 March 2023 hit 462,000 – a substantial increase over the 33,000 registrations in the previous 12-month period. The dramatic increase reflects the 1...

HMRC’s latest roundup for employers covers the relaunched ‘fit note’, changes to HMRC’s interpretation of the tax treatment for home charging of electric company cars, and correcting payroll errors:HMRC’s Employment Income Manual has been updated (at...

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

HMRC has issued Spotlight 63, highlighting an avoidance scheme marketed to landlords which claims to bypass the restrictions on mortgage interest relief, reduce taxable profits from the property business and reduce CGT and IHT.In very basic terms,...

The Good Law Project (GLP) recently challenged HMRCs approach to the taxation of carried interest, contending that the regime has no basis in law and that the normal income tax rules should apply in most cases (rather than carried interest...

Responding to HMRC’s consultation on the delayed reporting of advance salary payments to employees, the CIOT agrees that the proposals would ease the administrative burden for employers by delaying the requirement to report the advance part of a...

As part of its one to many ‘nudge letter’ approach to compliance, HMRC has started writing to agents whose clients’ tax returns for 2021/22 may have included ‘discrepancies’ when compared to other information held by HMRC. The potential errors relate...

HMRC has published a short paper (Brief 7/2003) providing context to the extension of VAT zero-rating to drugs and medicines dispensed in accordance with a patient group direction. The change was introduced by the VAT (Drugs and Medicines) Order, SI...