NEWS

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

Alongside a roundup of previously announced proposals, the chancellor unveiled several new measures in his Spring Budget on 15 March 2023.Companies which had expected the super-deduction capital allowances regime to end on 31 March 2023 will instead...

Tax Policy Associates founder, Dan Neidle has published new analysis suggesting that carried interest should be taxed as income rather than as capital.The current treatment, which sees private equity fund managers pay CGT at 28% on their ‘income’,...

The UK government has issued updated guidance to allow pure mathematics to qualify as R&D for tax purposes from 1 April 2023. The Research and Development (Prescribed Activities) Regulations, SI 2023/293, effectively provide a legal definition of...

HMRC has published the following new guidance notes on the off-payroll working rules for intermediaries, contractors and clients: Off-payroll working for intermediaries and contractors providing services to the public sector or medium and large...

The Individual Savings Account (Amendment) Regulations, SI 2023/264, relax certain rules on assets which can be held within (or returned to) the ISA wrapper, and provide further safeguards for investors where an ISA manager loses its approved...

The Welsh Parliament has approved a resolution setting the Welsh rates of income tax at 10p in the pound for the basic, higher and additional rates of income tax in Wales, ensuring continued parity with income tax in England and Northern Ireland for...

HMRC has confirmed that the 2017 UK-Kyrgyzstan double taxation agreement has not yet entered into force. The agreement had previously been published in HMRC’s tax treaties collection as being in force and effective in the UK from 1 January 2023. HMRC...

Angola has become the 166th member (and 35th African member) of the Global Forum on Transparency and Exchange of Information for Tax Purposes. As a member of the Global Forum, Angola will commit to implementation of the Global Forum’s international...

Following their recent appearance before the Commons Treasury Committee, Kathryn Cearns and Bill Dodwell have written to the Committee setting out areas of the UK tax system for future simplification. Some of the more eye-catching areas...