NEWS

In updated guidance (Charities: detailed guidance notes on how the tax system operates on Gov.uk) HMRC has confirmed that, where an administration fee is deducted from a charitable donation which reduces the actual amount received by the charity, the...

HMRC and the Association of British Insurers have together published new, detailed guidance to help insurers gain approval for ‘fair and reasonable’ partial exemption special methods. Insurance sector partial exemption framework covers the basic...

The Treasury has published explanatory notes summarising the potential impact for VAT in Northern Ireland of proposed changes to the EU principal VAT Directive (2006/112/EC) and Implementing Regulation (282/2011/EU), and Regulation 904/2010/EU on...

The International Tax Enforcement (Disclosable Arrangements) Regulations, SI 2023/38, implement the OECD’s model mandatory disclosure rules for common reporting standard avoidance arrangements and opaque offshore structures in the UK. In essence, the...

New analysis from the OECD predicts that the Pillar Two global minimum tax will result in annual global revenue gains of around $220bn, or 9% of global corporate income tax revenues – a significant increase over the OECD’s previous $150bn...

HMRC’s latest Agent Update covers recent developments, including:Basis period reform: noting that the changes for transitional year 2023/24 will affect self-assessment tax returns due by 31 January 2025, and also pointing out that the delayed...

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

HMRC is consulting on potential options to simplify the UKs RD tax relief system. Closing on 13 March 2023, the consultation sets out proposals for how a single RD scheme based on the research and development expenditure credit...

The 2023/24 chargeable period for annual tax on enveloped dwellings (ATED) is a revaluation year. Revaluations are required every five years and apply regardless of when the property was acquired, and determine which band the property falls into....

HMRC will continue to be able to consider cases where work location changes, caused solely by the Covid-19 pandemic, are disregarded for the purposes of issuing certificates of continuing liability to UK NICs, reports the ICAEW.The deadline for...