NEWS

HMRC has published a new collection of guidance on Making Tax Digital for Income Tax Self-Assessment, aimed at those who sign up to MTD for ITSA on a voluntary basis for the tax year 2024/25.Designed to accompany the testing phase of MTD for ITSA,...

In the latest instalment of its collection of guidance on tax avoidance arrangements, HMRC’s Spotlight 64 highlights some of the risks for employment and recruitment agencies of engaging with umbrella companies – particularly where the umbrella...

The Fair Tax Foundation and CSR Europe have launched a ‘tax responsibility and transparency index’, a new tool MNEs can use to benchmark their approach to taxation against other organisations. The index rates businesses on their commitment to the...

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

As reported last week, the Labour Party’s tax proposals include the appointment of an ‘independent expert panel’ to advise the party on tax policy. A recent summary of Labour’s commitments to ‘crack down on tax dodgers’ clarifies the remit of the...

In a proactive submission, the CIOT has put forward several key points around the UK government’s proposal to remove the tax rules for furnished holiday lettings from April 2025, cautioning that simply abolishing the regime will likely lead to...

The Guardian reports on concerns from the profession around Labour’s proposals to ‘squeeze the incomes of wealthy non-doms’, quoting Sophie Dworetzsky, Partner at Charles Russell Speechlys, as saying: ‘These measures feel like trying to squeeze out...

The Tax Credits (Income Thresholds and Determination of Rates) (Amendment) Regulations, SI 2024/510, correct the income threshold for working tax credit to £7,955 rather than £7,995 as had inadvertently been set out in the original 2024 threshold...

HMRC have published the VAT road fuel scale charges which apply from 1 May 2024 until 30 April 2025. The scale charges are used to account for private fuel consumption in a business vehicle, essentially fixing on a flat-rate basis the proportion of...

HMRC have published a new template for the recording of supporting information for VAT refund claims under the DIY housebuilder scheme. The template is linked through from HMRCs existing guidance notes on the DIY builders refund scheme,...