NEWS

HMRC is consulting (until 19 June 2023) on further draft regulations to deal with the tax implications of the public service pensions remedy under the Public Service Pensions and Judicial Offices Act 2022 and the Public Service Pension Schemes...

HMRC has published new guidance for claims under the VAT second-hand motor scheme in Northern Ireland by businesses which do not have an establishment in the UK (these are claims under Article 8 of the principal Order establishing the scheme, SI...

The Treasury has issued new regulations to implement various aspects of the register of overseas entities which requires overseas entities which own UK property to provide beneficial ownership information to the registrar of companies.The Register of...

The UK and San Marino signed a new double taxation convention on 17 May 2023. The agreement is not yet in force and, as is usual practice for double tax agreements, the text of the convention will be included in a Schedule to a statutory instrument...

Sierra Leone has become the 168th member of the Global Forum on Transparency and Exchange of Information for Tax Purposes. Sierra Leone is the 37th African country to join the Global Forum, and will also join the Africa Initiative....

The Financial Secretary to the Treasury has replied to a joint letter, submitted on 1 March 2023, in which the professional bodies had set out concerns around ‘unacceptably low’ service levels and urged the Chancellor to invest in HMRC.The response...

HMRC has raised its late payment and repayment interest rates again, following the most recent increase in the bank base rate. With effect from 31 May 2023, HMRC’s interest rates will be as follows for most taxes:late-payment of tax (amounts due from...

The Public Bill Committee finished its consideration of Finance (No 2) Bill 2023 on 18 May 2023.All UK government amendments have been passed as follows (all other amendments either failed or were withdrawn):The agreed amendments will now be added to...

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

According to IFS research, one in five taxpayers (7.8m) will pay income tax at 40% or above by 2027/28. This represents a near-quadrupling of the share of adults paying higher rates since the early 1990s.The report, A deepening freeze: more adults...