NEWS

HMRC's 1 July Stakeholder Digest includes a reminder of the new alcohol product duty regime which comes into force on 1 August 2023 (courtesy of Finance (No 2) Act 2023), highlighting the new reliefs for small producers and draught products, together...

The Taxes (Base Erosion and Profit Shifting) (Country-by-Country Reporting) (Amendment) Regulations, SI 2023/752 set out a straightforward but important measure in relation to the requirement for multinationals to notify HMRC that they intend to...

The International Organisations (Tax Exemptions Designation) (Amendment) Order, SI 2023/748, corrects an error in a previous Order (SI 2023/348) which had intended to designate several international organisations for the purposes of reliefs from...

HMRC has published a brief note on the requirement to report non-customs de minimis state aid payments for organisations involved in bringing goods into Northern Ireland from Great Britain or from outside the EU. These could include, for example,...

Following the Bank of England decision to raise the bank base rate to 5%, HMRC has increased both its late-payment and repayment interest rates accordingly, following the established formula that interest on late payments is 2.5 percentage points...

HMRC's latest Stakeholder Digest (dated 7 July 2023) confirms that HMRC is rolling out its call time messages to further helplines in July. The message tells callers how long they are likely to have to wait until an adviser becomes available (based...

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

During the passage of the Economic Crime and Corporate Transparency Bill in the House of Lords, members have voted in favour of amending the proposed failure to prevent fraud offence to considerably widen its scope. The amendments:remove the...

The Chartered Institute of Taxation (CIOT) is warning that HMRCs efforts to get tough on abuse of RD tax relief are resulting in it rejecting legitimate claims by SMEs and stone-walling other genuine claimants with a bureaucratic system...

Finance (No. 2) Bill 2023 completed its remaining stages in the House of Lords on 4 July and is on course for Royal Assent before the Parliamentary recess on 20 July....