NEWS

The European Commission has proposed new tax transparency rules for all service providers facilitating transactions in cryptoassets for customers resident in the EU. Taken forward in an amending Administrative Cooperation Directive (DAC 8), the...

HMRC has launched a technical consultation on proposed reforms of the VAT rules on fund management to ‘improve legal clarity and certainty’. The consultation is not intended to result in policy change but rather to put existing policy onto a...

HMRC has updated its VAT domestic reverse charge technical guide at the section ‘Scaffolding on zero-rated new build housing’ to confirm that, in a change to previous policy, there will be a transitional period to 1 February 2023 where businesses can...

The EU Commission has published its long-awaited legislative proposals on VAT in the Digital Age (ViDA). The package has three main objectives:modernising VAT reporting obligations: introducing digital reporting requirements which will standardise...

The following regulations have been issued to activate the new VAT late-filing and late-payment penalties and interest regime with effect from 1 January 2023:Finance Act 2021 (Value Added Tax) (Penalties) (Appointed Day) Regulations, SI 2022/1278:...

As part of the so-called Edinburgh reforms, a package of measures intended to improve the competitiveness of the UK financial services industry, the chancellor announced proposed changes to the tax rules for real estate investment...

The Van Benefit and Car and Van Fuel Benefit Order, SI 2022/1288, increases the base figure for calculating car fuel benefit to £27,800. It also amends the cash equivalent figure for calculating van benefit to £3,960 and van fuel benefit to £757. The...

HMRC’s Employer Bulletin for December 2022 includes a number of updates particularly relevant for those dealing with PAYE:a reminder that employees may be able to get tax relief on work-related expenses if employers have not already reimbursed them...

HMRC has published a summary of responses to the consultation on the expansion of the investment manager exemption to include transactions in cryptoassets. The government intends to use a definition of cryptoassets which is based on the current OECD...

HMRC has updated its Disguised remuneration settlement terms 2020 for tax agents or advisers guidance to confirm that a charge under ITEPA 2003 s 222 can arise on the loan charge when all of the following apply:an individual has used an...