NEWS

The Inclusive Framework has published Agreed administrative guidance for the Pillar Two GloBE rules. The new guidance addresses various issues identified by Inclusive Framework members as most in need of immediate clarification and simplification.The...

The OECD has published a new Manual on the handling of multilateral mutual agreement procedures and advance pricing arrangements (MoMA). The manual is intended as a guide to multilateral MAP and APA processes from both a legal and procedural...

HMRC has published new guidance in advance of the introduction, on 28 March 2023, of the requirement for taxpayers, promoters and advisers to disclose details of offshore avoidance arrangements under the mandatory disclosure rules (MDR). The...

HMRC has published a new Alternative Dispute Resolution Guidance Manual setting out how the ADR process is intended to work in practice, and including sections on the basic ‘ground rules’ for ADR and formal conclusions of ADR discussions....

The CIOT has submitted further sets of representations, ahead of the Spring 2023 Budget:1. Employment taxes and pensions: many of the CIOT’s recommendations address inconsistency around the tax treatment of expenses incurred by employees, with a...

HMRC is increasing the late payment rate of interest to 6.5%, and the repayment interest rate to 3% from 21 February 2023. Interest charged on underpaid quarterly instalments of corporation tax is increased to 5%, and interest paid on overpaid...

Tax Journal thanks its authors for January 2023 (click on links below to view author profiles).

In a new report Research and development tax relief and expenditure credit, the House of Lords Finance Bill Sub-Committee urges the UK government to abandon its proposed requirement for companies to make an advance notification of RD tax relief...

New data suggests that thousands of UK businesses are holding back growth to make sure they avoid hitting the VAT registration threshold. The data from 201819 shows a cliff-edge drop in the number of businesses by turnover band, as turnover...