NEWS

HMRCs latest stakeholder digest (20 April) says HMRC will soon be introducing the new advance valuation ruling service, which will provide traders with legal certainty on the valuation method of goods they are importing...

HMRC’s April 2023 bulletin highlights the following: reporting expenses and benefits for the tax year ending 5 April 2023, including the mandatory online filing of P11Ds (and online correction of errors);registering to payroll benefits for...

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

Lord Sharpe (Conservative) has put forward a number of amendments to the Economic Crime and Corporate Transparency Bill (amendments 84A to 84G and 86B) to introduce a new corporate offence of failing to prevent various types of fraud. The amendments,...

The following government amendments were passed in the House of Commons on 18 April 2023 at Committee of the Whole House stage:R&D tax relief schemes:Sch 1 (govt amendment 14): this amendment updates CTA 2009 s 1057 to allow a company to make a valid...

HMRC has increased the valuation rate of interest used to determine the value of retained rights under discounted gift schemes from 4.5% to 6.75% per annum with effect from 1 May 2023. Revenue and Customs Brief 4/23 highlights the importance of the...

The GAAR Advisory Panel has found that arrangements to minimise the SDLT payable on the purchase of a residential property were not reasonable. The scheme involved the purchase of a house by a married couple. Rather than paying SDLT on the full...

HMRC has clarified its intention not to pay VAT refund claims relating to certain types of gaming machine. In an update to Revenue and Customs Brief 12/21: VAT treatment of gaming machines from 6 December 2005 to 31 January 2013, HMRC has clarified...

Zimbabwe has become the 167th member – and 36th African member – of the Global Forum on Transparency and Exchange of Information for Tax Purposes.Like all other members, Zimbabwe will participate on an equal footing and is committed to combatting...

Tax Administration and Maintenance Day is set for 27 April 2023, the government has announced. Victoria Atkins, Financial Secretary to the Treasury said that the measures will ‘outline the action the government is taking to simplify the tax system,...