NEWS

From 1 November 2022, business will not be able to use their existing VAT online account to send quarterly or monthly VAT returns. Businesses instead need to sign up to making tax digital (MTD) and use compatible software to keep their VAT records...

HMRC has revised various Notices, as follows:VAT Notice 700/1: Who should register for VAT: section 4.5 ‘Your VAT registration number – when to expect it’ has been updated to reflect HMRC’s intention to send out a certificate showing full...

A new report on the status of the Coronavirus Act 2020 confirms that powers to enable remote participation in court and tribunal hearings are now permanent. The report on the ‘status on the non-devolved provisions of the Coronavirus Act 2020’ sets...

HMRC has published a new GAAR Advisory Panel opinion on the extraction of cash (or equivalent) using trust interests, limited liability partnership and the novation of loans.The scheme involved a complex series of transactions which resulted in the...

HMRC has confirmed that a large number of taxpayers who have reclaimed tax payments using the repayment agent Tax Credits Ltd since December 2021 will be due a direct refund from HMRC.Following an investigation into Tax Credits Ltd, HMRC was not...

The CIOT has focused on three areas in its response to the general consultation on draft legislation for the next Finance Bill.Concerning CGT on transfers of assets between spouses in the process of separating, the CIOT welcomes a three-year...

HMRC’s new Factsheet CC/FS71: Compliance checks: information notices - penalties for facilitating avoidance schemes involving non-resident promoters provides details of the information notices HMRC is able to give when checking if a taxpayer needs to...

HMRC’s recent Digest highlights the following:Making Tax Digital for VAT: a reminder that from 1 November 2022 businesses who file their VAT returns on a quarterly and monthly basis will no longer be able to submit them using their existing VAT...

New guidance provides an overview (with links to relevant HMRC webpages) of HMRC’s approach to civil tax disputes, highlighting statutory reviews of tax decisions, tax tribunal appeals and the role of alternative dispute resolution. A section on...

Tax Journal thanks its authors for September (click on links below to view author profiles):