NEWS

HMRC has published a new brief setting out the option to tax notification process from 1 February 2023. Revenue & Customs Brief 1/23 confirms that from that date HMRC will stop issuing option to tax notification receipt letters. Options notified to...

EU member states are negotiating with a view to providing a coordinated response to concerns on the impact of the US Inflation Reduction Act on European businesses, claiming that it discriminates unfairly against production outside of the United...

HMRC has published the outcome of its consultation Raising standards in tax advice: protecting customers claiming tax repayments together with a summary of the responses it received.Following the consultation, the UK government intends to:introduce a...

Commenting on the Welsh government consultation on a proposal for a visitor levy, which would be chargeable by local authorities at their discretion on overnight stays in Wales, the CIOT makes a number of key points: Introducing a levy on providers...

The Public Accounts Committee has published a report HMRC performance in 2021/22 which is highly critical of HMRC approach to compliance and its levels of customer service.Although HMRC collected £731.1bn in taxes and duties in 2021/22, which is the...

A new report Mission zero: independent review of net zero, following a review in September 2022 to ensure that the government’s net zero target does not place undue burdens on businesses or consumers, has published 129 recommendations, including:how...

The Sun newspaper has reported (14 January) that ‘former chancellor Nadhim Zahawi agrees to pay several million in tax after scrutiny of his family’s financial affairs’. The paper noted that the settlement ‘comes after questions were asked over...

The All-Party Parliamentary Loan Charge and Taxpayer Fairness Group have written to Victoria Atkins, financial secretary to the Treasury, raising concerns over HMRC’s pursuit of individuals prior to 2010 which is in contravention of its failure to...

The latest monthly insolvency statistics for December 2022 reveal that the number of registered company insolvencies in December 2022 was 1,964, a 32% increase on the previous year (1,489 in December 2021) and 76% higher than the number registered in...

HMRC has published further new and updated guidance for imports, exports, and customs to reflect the post-transition period regime:Official customs seals and trader sealing (notice 205):removed guidance for seals manufacturers explaining how they can...