NEWS

The Tax Credits, Child Benefit and Guardian’s Allowance Up-rating Regulations, SI 2024/247, increase the following amounts for working tax credit and child tax credit from 6 April 2024.Working tax credit: basic element increases from £2,280 to...

HMRC have revised their February 2024 lifetime allowance newsletter to explain the conditions where event number 24 applies. HMRC have confirmed that FA 2024 Sch 9 para 106 (which introduced new event number 24) will be amended so that event 24 only...

HMRC have published a Notice under the powers in VATA 1994 Sch 9ZE, to set out various requirements for the VAT import one-stop shop. The import one-stop shop (IOSS) is designed to mirror the EU’s VAT distance sales rules, broadly for sales of...

HMRC have published Brief 1/2024 confirming that the supply of live web streaming of funeral, burial, or cremation services is to be treated as exempt from VAT under VATA 1994 Sch 9 Group 8 item 2. HMRC have issued this as a clarification of the VAT...

HMRC have updated VAT Notice 723A: Refunds of UK VAT for non-UK businesses: its guide to claiming refunds in the UK by businesses established outside the UK. New sections have been added on VAT groups (noting that the representative member must claim...

HMRC have published the latest version of its Updates on VAT appeals: the list of VAT appeals that HMRC has lost and which may have implications for other businesses....

The OECD General-Secretary’s latest tax report to the G20 provides an update on international tax reform, including developments at the OECD/G20 Inclusive Framework on BEPS and the Global Forum on Transparency and Exchange of Information for Tax...

The Economic Crime and Corporate Transparency Act 2023 (Commencement No 2 and Transitional Provision) Regulations, SI 2024/269, bring most of Part 1 (Companies House reforms) and Part 3 (register of overseas entities) of the Economic Crime and...

HMRC have published new guidance on accessing HMRC’s online services using the new ‘GOV.UK One Login’. This will eventually replace other access points including the Government Gateway sign-in. HMRC say that it will prompt users when they need to...

Tax Journal thanks its authors for February.