NEWS

The OECD has launched a new VAT digital toolkit for Africa, developed in close consultation with tax administrations across Africa, and providing detailed guidance to help African tax administrations secure increasingly significant revenues from VAT...

Having previously decided to make tax repayments direct to taxpayers rather than via the repayment agent ‘Tax Credits Ltd’, HMRC has reviewed its position where taxpayer clients signed up with the company using its paper form. HMRC has decided that,...

HMRC’s February update provides a roundup of recent developments including the following:Preparing for basis period reform: a reminder that from April 2024, businesses will be taxed on profits for the tax year instead of profits for the accounting...

HMRC’s Employer Bulletin for February 2023, the 100th edition of the bulletin, covers various employment tax developments, including the following:HMRC’s view on the reporting of advances of salary: HMRC intends to introduce secondary legislation to...

HMRC issued winding-up petitions to 440 companies in the final quarter of 2022, compared to 301 in the previous quarter, according to data seen by Mazars. The increase reflects a change of approach by HMRC, following the end in 2022 of the...

HMRC collected a record £21.9bn in self-assessment income tax receipts in January 2023, a 33% increase over January 2022, recent figures from the Office for National Statistics reveal. The overall tax take (for all taxes) for January 2023 hit £1.6bn,...

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

Ministers must set up an emergency taskforce to tackle the unacceptable backlog at HMRC, which has hindered growth, the ICAEW chartered accountancy body has said.A cross-sector emergency taskforce should be charged with identifying areas for support...

The Department for Business and Trade (formerly the Department for Business, Energy and Industrial Strategy (BEIS)) has added over 1,000 additional pieces of retained EU law (REUL) to its Retained EU law dashboard. The extra legislation was...

HMRC has published the 2023/24 versions of its CWG5 Booklet which provides guidance for employers on reporting and paying NICs on benefits in kind, including where the employer is payrolling benefits in kind.Although there are no material changes to...