NEWS

The heads of ten leading UK professional bodies have signed an open letter urging Chancellor Jeremy Hunt to prioritise investment in HMRCs service levels in his upcoming Budget statement on 15 March 2023.The professional bodies in question...

On 27 February 2023, details of the Windsor Framework were revealed. The Framework aims to address issues with the application of the Northern Ireland Protocol, including trade friction. From a tax perspective, the Framework could have important...

In a new report, the IFS suggests that, although the UK’s short-term economic outlook appears more positive than previously anticipated, concerns remain around the longer-term prospects, giving the chancellor little room for manoeuvre in his 15 March...

HMRC has issued revised advisory fuel rates from 1 March 2023, reflecting a slight fall in fuel prices in recent months. The rates apply when employers either reimburse employees for business travel in their company cars or require employees to repay...

HMRC’s Rates and thresholds for employers 2023 to 2024 page sets out various useful tax and NICs rates, thresholds and allowances ahead of the new tax year. ...

Where income tax was due but not paid by the 31 January 2023 self-assessment deadline, late-payment penalties will start to be levied in March. The legislation says that the first ‘penalty date’ is the day after a period of 30 days has expired,...

Two new sets of regulations have been made to address some of the tax issues surrounding compensation payments made to sub-postmasters in relation to the Post Office Horizon IT system scandal. The Post Office Horizon Compensation and Infected Blood...

For tax credits purposes, any additional transitional profits arising in 2023/24 as a result of basis period reform will be excluded from the calculation of income. The Tax Credits and Child Benefit (Miscellaneous Amendments) Regulations, SI...

The Supreme Court has confirmed that, during the historical period in question, VAT zero-rating applied only to the physical editions of newspapers and did not extend to the digital versions.In News Corp UK & Ireland Ltd v HMRC [2023] UKSC 7, the...

HMRC is reminding all VAT-registered business that the first monthly VAT returns and payments affected by the new penalties are those due by 7 March 2023.The deadline for submitting VAT returns online (and for paying any VAT due) is one calendar...