NEWS

Both Houses of Parliament have now agreed on the text of the Retained EU Law (Revocation and Reform) Bill 2022/23 and has received Royal Assent. A Lords report amendment in May replaced the proposed sunset clause of all EU-derived subordinate...

HMRC has published a new guidance page on how to submit a return for the economic crime levy.Businesses who have registered for the economic crime levy must submit returns by 30 September each year, the first returns being required by 30 September...

HMRC has published its June Pension schemes newsletter 151 that confirms that following the Spring Budget 2023 announcement that the lifetime allowance charge would be removed from 6 April 2023 and fully abolished from the 2024 to 2025 tax year, the...

There has been a ‘lack of clarity over the impact this decision will have on taxpayers’, according to Harriett Baldwin, chair of the Treasury Committee, in HMRC’s response to questions on the summer closure of the self-assessment (SA) helpline, which...

HMRC has published a notice setting out how to notify them of any changes to the information supplied on an application for registration for the one stop shop (OSS) scheme.This Notice is made under VATA 1994 Sch 9ZD para 8(2) to set out how to notify...

Last week the government launched two consultations:a call for evidence seeking views on how customs declaration requirements can be streamlined and how technology can be used to meet these requirements in an effective and cost effective way (closes...

HMRC’s duty reimbursement scheme that allows traders moving goods into Northern Ireland to reclaim EU duty if they can demonstrate that the goods were sold or used in Northern Ireland or somewhere else outside the EU came into effect on 30 June as...

The CIOT has published its response to HMRC’s consultation on stamp taxes on shares modernisation which had sought views on proposals to modernize and consolidate the existing stamp duty and SDRT legislation. It was proposed that a new single tax...

Tax Policy Associates (TPA) has published a report into a tax avoidance scheme that it alleges involved a company splitting its business between 10,000 companies and using social media to hire 10,000 Filipino individuals as shareholders/directors,...

The CIOT has responded to the House of Commons Public Accounts Committee (PAC) inquiry into Progress with Making Tax Digital. In summary, the CIOT comments and recommendations are as follows:The CIOT agrees that, in principle, digitalisation offers...