NEWS

HMRC has published the 2023/24 versions of its CWG5 Booklet which provides guidance for employers on reporting and paying NICs on benefits in kind, including where the employer is payrolling benefits in kind.Although there are no material changes to...

The Scottish government isconsultingon proposed changes to how the land and buildings transaction tax (LBTT) additional dwelling supplement (ADS) operates.Key proposalsinclude:for the purposes of relief from the ADS, extending...

Only 20% of Scots correctly identified that income tax is a shared responsibility of the Scottish and UK parliaments, according to research carried out by the CIOT. This is the lowest figure recorded since the survey was first conducted in 2018 (34%)...

New official transfer pricing statistics show that HMRC settled a record 175 cases involving corporates shifting profits overseas in 2021/22, up from 124 in the previous year. HMRC’s transfer pricing yield statistics show that the department...

HMRC has published a new internal guidance manual on its Litigation and Settlement Strategy (LSS), the framework within which HMRC resolves tax disputes through civil law processes and procedures. The LSS applies irrespective of whether the dispute...

The anticipated failure to prevent offences are expected to be added to the Economic Crime and Corporate Transparency Bill at House of Lords Committee Stage.During the debate on the Bill at Second Reading in the House of Lords on 8...

Responding to the OECD’s Tax Certainty for the GloBE Rules consultation, the CIOT highlights the importance of clear rules to prevent tax disputes arising, and effective dispute resolution mechanisms where differences in the interpretation or...

HMRC has published a summary of responses received to its online sales tax (OST) consultation confirming that the proposals will not be taken forward. Considering the concerns raised and the absence of credible solutions to the challenges identified...

HMRC is consulting on draft Alcohol Products (Excise Duty) Regulations 2023, which will set out the first phase of the new, single excise duty system for alcoholic products from 1 August 2023. When fully implemented, the new system will replace the...

Responding to the Treasury consultation on the VAT treatment of fund management services, the CIOT in principle welcomes the codification of policy ‘accurately and effectively, without unintended consequences, where such reform increases clarity and...