NEWS

Responding to the OECD consultation on draft model rules for Amount A, the CIOT welcomes the revised implementation schedule and, given the complexity of the rules, suggests a review mechanism to allow for future changes. The response highlights a...

The August edition sets out a brief summary of the OECDs two pillars with the latest anticipated implementation dates, and also highlights the expanded MTD for Income Tax pilot:Pillar 1 and Pillar 2: the OECD intends Pillar 1 to enter into...

HMRCs latest Stakeholder Digest includes the following:Making Tax Digital for VAT: from 1 November 2022, businesses will no longer be able to use their existing VAT online account to file their quarterly or monthly VAT returns and will instead...

Pinsent Masons reports that organised crime gangs have defrauded 367m from the Covid-19 support schemes. According to the firm, the Self-Employment Income Support Scheme (SEISS) was particularly vulnerable, given that the basic requirement for...

Recent figures show that HMRC collected 716bn in taxes in 202122, an increase of 22.5% over the previous tax year. Receipts from personal taxes including NICs were 394bn, mainly due to strength in both employee earnings...

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors. Direct taxesManual Page Comments Corporate Intangibles Research and Development...

In Treasury minutes published on 5 August 2022, the UK government has agreed with all recommendations in the Public Accounts Committees report Lessons from implementing IR35 reforms which was highly critical of the IR35 rules...

HMRC has updated the following research and development guidance:The overview section to HMRCs Claim Research and Development (RD) expenditure credit guidance clarifies when RDEC can be claimed and what tax...

HMRCs latest Employer Bulletin highlights three key PAYE changes:new improved digital version of the PSA1 form;variable payment plans from 19 September 2022; andcorrected guidance on the first full payment submission for new starters.The...

The ICAEW Tax Faculty has highlighted that HMRCs guidance on the tax treatment of the reimbursement of electricity costs for charging company-provided wholly electric cars conflicts with the law.The Tax Faculty has spotted that HMRCs...