NEWS

The CIOT has welcomed changes to the Economic Crime and Corporate Transparency Bill which close a perceived ‘loophole’ in the way in which beneficial owners of companies are required to be identified in the register of overseas entities. The final...

The CIOT has highlighted changes to the ICAEWs continuing professional development (CPD) regulations which apply from 1 November 2023.Members covered by the regulations will be required to complete the following each year:a minimum number of...

The Scottish Courts and Tribunals Service (SCTS) has issued new guidelines for taking evidence from overseas in the Scottish tribunals, including the First-tier Tribunal for Scotland and the Upper Tribunal for Scotland.Where evidence is to be...

The Levelling-up and Regeneration Act 2023 was given Royal Assent on 26 October 2023.The Act includes powers to introduce a new infrastructure levy which is intended to replace the community infrastructure levy in England (except in London). The main...

A survey of more than 500 mid-market businesses revealed that 77% expect to pay the same or higher taxes after the next general election, according to BDO. The survey also identified concerns over the prospects for a reduction in the rates of...

A recent report by the EU Tax Observatory has produced six new findings on global tax evasion and made six recommendations. Global Tax Evasion Report 2024 highlights the following key points:automatic exchange of information has led to a significant...

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

The CIOT has responded to the House of Lords Economic Affairs Finance Bill Sub-Committee call for evidence on four areas covered by the draft legislation for the next Finance Bill, namely measures dealing with the promoters of tax avoidance and...

HMRC has updated its corporation tax online service guidance to cover problems SME subcontractors are facing when claiming research and development expenditure credit (RDEC). HMRC has acknowledged that some companies which are claiming RDEC as an SME...

HMRC is consulting on draft regulations which would introduce interest charges on the late payment of electronic sales suppression (ESS) penalties. The draft Electronic Sales Suppression (Appointed Day) Order 2024 will apply the FA 2009 ss 101 and...