NEWS

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors. Direct taxesManual Page Comments Capital Gains Manual Updated: CG63956 Paragraph...

The UK government has introduced a new Bill which aims to end the status of retained EU law from the end of 2023, and enable the government to amend, repeal and replace retained EU law via secondary legislation.The Retained EU Law (Revocation and...

In last week’s fiscal event, Chancellor Kwarteng set out a new tax-cutting agenda marking a radical shift in tax policy. Measures include: cuts to income tax, the reversal of the NIC increases, the scrapping of the planned increase in corporation...

As announced during the Chancellor’s mini-Budget on 23 September, the government is reversing its previous increases to National Insurance contributions with effect from 6 November 2022, and will scrap the health and social care levy before it comes...

The following Regulations designate areas in the Plymouth and South Devon Freeport and Solent Freeport as freeport tax sites with effect from 14 October 2022:Designation of Freeport Tax Sites (Plymouth and South Devon Freeport) (No 2) Regulations, SI...

HMRC has updated its August 2022 Employer Bulletin to confirm a revised start date for the variable payment plan service. The service for employers to use the new variable Direct Debit payment plan will now be available from 3 October 2022 instead of...

As announced in the UK government’s Growth Plan 2022, HMRC’s Employment Related Securities Bulletin 45 confirms the proposed changes to company share option plans (CSOPs).For new options granted from 6 April 2023, the maximum employee share option...

HMRC has published new guidance outlining various checks that taxpayers should undertake before appointing an agent to deal with HMRC on their behalf. Top tips to consider from HMRC include:check the agent’s website to see what tax services they...

EU Tax Commissioner, Paolo Gentiloni, has described the US proposal for a corporate alternative minimum tax (CAMT) as a ‘positive and interesting decision … that establishes a minimum of 15 per cent corporate taxation in the US’ but which is ‘not a...

The CIOT welcomes Treasury proposals to put the UK’s sovereign immunity from direct tax onto a statutory footing, but cautions that potential unintended consequences need to be considered carefully, particularly in terms of the interaction with the...