NEWS

The Inclusive Framework on BEPS has released a compilation of ‘qualified’ domestic rules and tools to streamline the administration of the global minimum tax.The global minimum tax includes an agreed rule order that limits the application of minimum...

HMRC have published their third report on the use of Financial Institution Notices (FINs), covering the period from 1 April 2023 to 31 March 2024. HMRC summarise the report’s key findings as follows: ‘The report shows there has been a significant...

HMRC’s Agent Update for January 2025 includes the following key highlights:Changes to tax repayment claims process when agents become insolvent: HMRC have altered the process for handling repayment requests when an agent is insolvent. This means...

HMRC have published new Guidelines for Compliance GfC12 ‘Help with labour supply chain assurance’. HMRC say that the guidelines aim to:promote the importance of effective labour supply chain (LSC) assurance;provide information for businesses to...

Updated guidance:Transit newsletters — HMRC updates. The January 2025 update ‘NCTS Phase 5: multiple house consignments’ confirms implementation on 21 January 2025, by all national administrators that are members of the Common Transit Convention, of...

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

Welcome news for the Chancellor may have been in short supply in recent weeks, but figures from the 12 months to 30 September 2024 reveal that HMRC’s UK tax investigations brought in £10bn more than in the previous year – up by 28%, to £45.7bn in...

The EU Directive on Faster and Safer Relief of Excess Withholding Taxes (FASTER) has been published in the Official Journal of the EU. This introduces a common tax residence certificate enabling investors to benefit from fast-track procedures to...

The CIOT’s briefing on the National Insurance Contributions (Secondary Class 1 Contributions) Bill includes the following observations:the increase in employers’ NICs extends the differential in the tax burden between those in employment and those...

HMRC have added new sections to their ‘Use Making Tax Digital for Income Tax’ guidance, to cover how to notify HMRC of changes in circumstances after having signed up for Making Tax Digital for Income Tax. Most changes can be reported through...