NEWS

Lords Committee Stage for the Economic Crime and Corporate Transparency Bill has been scheduled for 27 March 2023. Although the government has not yet put forward its own amendments on the widely expected ‘failure to prevent offences’, Baroness...

HMRC’s latest Stakeholder Digest includes the following reminders:The deadline for making voluntary NICs (to plug any gaps in an individual’s contribution record going back to 2006) has been extended to 31 July 2023, noting that individuals should...

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

HMRC has launched a One to Many campaign relating to the super-deduction capital allowances regime that applies for investment (by companies only) in qualifying new plant and machinery between 1 April 2021 and 31 March 2023. The letters cover the...

The draft Economic Crime (Anti-Money Laundering) Levy (Amendment) Regulations 2023 set out various administrative provisions for the assessment and collection of the levy, together with measures relating to enforcement, appeals, and information and...

The UK government has extended the deadline for individuals to top up their state pension by filling any gaps in their National Insurance record. Individuals can now make voluntary contributions until 31 July 2023 (with the cost of doing so frozen at...

The Commons Treasury Committee is to write to the chancellor, asking why the Office of Tax Simplification is to be abolished. As part of its recent tax reliefs enquiry, the committee recently held a session with the OTS focusing on how its closure is...

The Spring Finance Bill 2023 will be published on 23 March, the Treasury has confirmed in a written statement....

The CIOT has responded to HMRC’s consultation on draft guidance which will ultimately accompany the proposed April 2023 changes to research and development tax reliefs. Key comments include:The guidance under the ‘Overseas Expenditure’ heading as to...

The Taxes (Interest Rate) (Amendment) Regulations, SI 2023/216, increase the official rate of interest from 2% to 2.25% per annum, with effect from 6 April 2023. The official rate is used for the purpose of calculating the taxable benefit of...