NEWS

As announced at Spring Budget 2023, with effect from 15 March (the day of the Budget itself), charities and community amateur sports clubs based in the EU, Iceland, Liechtenstein or Norway no longer qualify for reliefs from UK taxes. Transitional...

Vietnam has signed the international treaty for multilateral tax co-operation, the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, bringing the total number of jurisdictions that participate in the Convention to 147....

The OECD has published its fifth peer review report assessing the actions taken by jurisdictions to prevent tax treaty shopping and other forms of treaty abuse under Action 6 of the OECD/G20 BEPS Project.The report finds that members of the Inclusive...

Following the Bank of England’s decision to increase the bank base rate by a further 0.25 percentage points to 4.25%, HMRC has updated its late-payment and overpayment/repayment interest rates accordingly.For late payments of most taxes, HMRC will...

The latest edition of HMRC’s roundup highlights the following:Basis period reform: the update summarises key points for businesses affected by the move to the new tax year basis, including using overlap relief for 2023/24 (with an online form...

HMRC’s latest Stakeholder Digest (23 March 2023) includes the following highlights:Campaign to move remaining paper filers over to self-assessment online: HMRC is writing to the 135,000 taxpayers who submit paper tax returns, encouraging them to file...

The Spring Budget included 54bn of changes across 40 tax policy areas over the next five years, according to Thomson Reuters, contrasting with over 220bn worth of changes to just 15 taxes in former Chancellor Kwartengs...

The Scottish government is consulting until 12 May 2023 on a new relief from land and buildings transaction tax for qualifying non-residential land transactions in designated green freeport tax sites.The consultation documentation confirms that the...

HMRC has issued the following regulations which will require employers to report their employees’ P11D expenses and benefits electronically from 6 April 2023 onwards: Income Tax (Pay As You Earn) (Amendment) Regulations, SI 2023/307Social Security...