NEWS

HMRCs Agent Update for November 2022 highlights various issues, and gives a general update on UK implementation of the OECD global tax reforms:Pillar One: two consultations are to be released by the end of 2022, one dealing with the withdrawal...

The amount of money seized by UK law enforcement agencies, including HMRC, the Serious Fraud Office (SFO) and the National Crime Agency (NCA), has jumped 77% from £108m in 2020/21 to £191m in 2021/22, says law firm RPC.Adam Craggs, partner and head...

The amount of delinquent tax debt owed to HMRC has increased by 10% from £34.3bn to £37.8bn (year ending 30 June 2022) in the last three months alone, notes law firm Pinsent Masons.This growing tax debt is subject to immediate debt collection...

Following the announcement of its closure in Chancellor Kwarteng’s ‘Growth Plan 2022’ on 23 September 2022, the Office of Tax Simplification (OTS) has confirmed it will cease its work after publication of the hybrid and distance working report, and...

Tax Journal understands that the Treasury intends to bring forward the next Finance Bill this Autumn, with the date of publication to be announced in due course. This follows confusion around the likely legislative schedule, with the Chancellor...

HMRC has added a new section 2.9 on energy bills support schemes and VAT liability of payments  to VAT Notice 701/19  to explain the VAT treatment of payments under the following three schemes:energy bill relief scheme;energy price guarantee;...

Tax Journal understands that HMRC is consulting with members of its Land and Property Liaison Group on proposed changes to the processing of notifications of options to tax land and buildings.Subject to further confirmation, it is understand that the...

The Stamp Duty Land Tax (Service of Documents) Regulations, SI 2022/1185 prescribe the following as places to which a notice or other SDLT document served by HMRC can be ‘properly addressed’:the company’s registered office; andthe purchaser’s address...

The CIOT welcomes many of the proposed changes including modernised definitions, but it cautions that other steps need to be taken to mitigate against error and fraud in R&D claims. The House of Lords Sub-committee’s call for evidence sought to...

Among the measures announced in the chancellor’s Autumn Statement was a commitment of £79m over the next five years to enable HMRC to ‘allocate additional staff to tackle more cases of serious tax fraud and address tax compliance risks among wealthy...