NEWS

HMRC has published a notice under the secondary legislation (SI 2023/68) which establishes the VAT second-hand motor vehicle payment scheme for Northern Ireland with effect from 1 May 2023. Under the scheme, a VAT payment may be due to a business...

The OECD anticipates releasing a qualified domestic minimum top-up tax safe harbour by the summer of 2023, as part of its work to implement Pillar Two. Jeffrey Mitchell, speaking for the OECD, outlined the timeframe during the USA Branch of the...

The UK government has issued new regulations to bring a number of new agreements within the scope of the International Tax Compliance Regulations, SI 2015/878. The International Tax Compliance (Amendment) Regulations, SI 2023/461, extend the...

On 22 December 2021, the European Commission presented a draft Council Directive to tackle the misuse of shell entities for improper tax purposes which would apply to all undertakings that are considered tax resident and are eligible to receive a tax...

Gareth Davies MP was appointed as Exchequer Secretary to the Treasury on 21 April, taking over from James Cartlidge (who moves to the Ministry of Defence). Previously Parliamentary Private Secretary to the Chancellor of the Exchequer, Davies takes up...

Figures published by Pinsent Masons show that the average length of prison sentences for UK tax fraud has increased consistently over the last five tax years, from 3.19 years in 2017/18 to 5.28 years in 2021/22. The firm notes that this reflects...

HMRC is contacting taxpayers who file annual VAT returns, to remind them that the pre-MTD online VAT return portal will close from 15 May 2023. The online VAT portal had already closed for normal quarterly filers but was kept open for an extended...

HMRC has provisionally collected 786.6bn in taxes for 2022/23, an increase of 9.9% (71.1bn) from the year before.HMRCs latest statistics show that cash receipts were higher mainly from income tax, capital gains tax and NICs...

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

The Low Incomes Tax Reform Group (LITRG) has published a report Good guidance: the importance of effective guidance for unrepresented taxpayers addressing concerns over the large volume of material issued by HMRC at various levels of detail and...