NEWS

The Inclusive Framework on BEPS has agreed a new assessment methodology for Action 14 peer reviews which will be based around a jurisdiction’s mutual agreement procedure (MAP) experience:Simplified peer review process: from January 2023, a simplified...

Analysis by the IFS suggests that the Scottish government will face ‘stark funding challenges’ over the next five years and beyond. The research, which is to be published in the IFS Scottish Budget 2023/24 report in February 2023, highlights a number...

HMRC’s latest Stakeholder Digest (26 January 2023) includes the following highlights: Spring Budget 2023 representations: businesses can submit their views on existing or future tax policy ahead of the upcoming Spring Budget. Submissions can be...

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

Prime minister Sunak has asked his ethics adviser to look into whether Mr Zahawis conduct breached the ministerial code which, in essence, asks whether the minister potentially was less than transparent when addressing questions on his tax...

The Retained EU Law (Revocation and Reform) Bill has completed its passage through the House of Commons and has had its first reading in the Lords. No date has yet been set for its second reading.The Stamp Duty Land Tax (Temporary Relief) Bill has...

The ICAEW is calling on HMRC to ‘make immediate changes’ to its customer service operations in the final run-up to the 31 January self-assessment deadline, reporting that some callers to HMRC’s helplines have been put on hold for more than one hour...

The Income Tax (Indexation of Blind Person’s Allowance and Married Couple’s Allowance) Order, SI 2023/36 increases the blind person’s allowance and married couple’s allowance by just over 10% for the 2023–24 tax year. The increase is also applied to...

In a major revamp of its guidance for trustees, HMRC has published new content confirming the penalties it can issue where trustees fail to register or maintain the details of a trust. The new guidance notes HMRC’s discretion to waive penalties where...

In updated guidance (Charities: detailed guidance notes on how the tax system operates on Gov.uk) HMRC has confirmed that, where an administration fee is deducted from a charitable donation which reduces the actual amount received by the charity, the...