NEWS

A second set of very detailed administrative guidance on Pillar Two (the first set was published in February 2023) covers the following:currency conversion rules when performing GloBE calculations;the treatment of tax credits under the GloBE...

The OECD has published another consultation document on Amount B of Pillar One (previous consultations together with comments received can be accessed from the OECD's planned stakeholder input in OECD tax matters page). Amount B aims to provide a...

The chancellor has unveiled the UK's first investment zone located in the South Yorkshire, building on the area's existing industrial and academic heritage. The investment zone will be backed by £80m of support for a range of interventions which...

Finance (No. 2) Act 2023 received royal assent at on Tuesday 11 July 2023.Two new clauses were added to the Bill during its passage through Parliament: clause 278 (domestic top-up tax commencement date) and clause 352 (communications data). As a...

The Treasury has launched a consultation, as promised at Spring Budget 2023, on potential measures to address 'avoidance, evasion and poor rating agent behaviour within the business rates system'. Closing on 28 September 2023, the review will...

The Social Security (Contributions) (Amendment No. 4) Regulations, SI 2023/751, give effect to the UK government's decision to further extend the deadline for making retrospective voluntary National Insurance contributions covering the period from...

The Post Office Horizon Shortfall Scheme Top-Up Payments (Tax Exemptions) Regulations,SI 2023/772, specify that horizon shortfall scheme top-up payments are qualifying payments for the purposes of FA 2020 Sch 15 paras 3 and 4 (Sch 15 provides...

A report by the Institute for Fiscal Studies, Tax, private school fees and state school spending, examines the Labour Party’s proposals to remove tax exemptions from private schools.The Labour party has committed to remove tax exemptions from private...

HMRC's 1 July Stakeholder Digest includes a reminder of the new alcohol product duty regime which comes into force on 1 August 2023 (courtesy of Finance (No 2) Act 2023), highlighting the new reliefs for small producers and draught products, together...