NEWS

The CIOT makes a number of key points in response to HMRC's consultation on proposed construction industry scheme changes:The gross payment status (GPS) test would be strengthened by including VAT, but genuine and minor VAT errors or delays should...

The Social Security (Contributions) (Amendment No 6) Regulations, SI 2023/823, exclude compensation payments made under the public service pensions remedy from the calculation of earnings for Class 1 NICs purposes. This NICs disregard mirrors the tax...

HMRC has published new guidance for employers and employees on how to deal with tax refund claims where the employee has negative earnings. A negative earnings situation arises where the employee is required to pay back all or part of their earnings...

The Insurance Premium Tax (Amendment) Regulations, SI 2023/827, enable HMRC to revise insurance premium tax registration and return forms via public notice, rather than secondary legislation being required every time a change is to be made. The...

HMRC has updated its VAT Notice 701/1 How VAT affects charities to reflect the two-stage test which needs to be applied when deciding if activities are business or non-business activities. This is of particular importance for charities which are...

The UK Endorsement Board (UKEB) has adopted the May 2023 International Accounting Standards Board amendments to IAS 12 international tax reform: Pillar Two model rules. The amendments 'introduce a temporary mandatory exception from accounting for...

The Luxembourg Parliament has voted to ratify the 2022 UK-Luxembourg double tax convention and protocol. The convention was ratified in the UK on 12 October 2022 and will enter into force in due course, following the usual notification procedures...

The UK has signed a new convention on social security co-ordination with Iceland, Liechtenstein and Norway which, when it comes into operation, will protect the social security benefits of individuals who move between those countries. The convention...

The Treasury has published the following two orders which give effect to new UK double taxation agreements with Brazil and San Marino: Double Taxation Relief and International Tax Enforcement (Brazil) Order, SI 2023/839 that gives legislative effect...

HMRC's creating innovative change through new legislative pilots consultation proposed a new way of testing changes to legislation – potentially setting up new rules for a discrete group of taxpayers for a set period of time. While generally...