NEWS

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

The start date for making tax digital for income tax is to be delayed until 6 April 2026 at the earliest, with the requirements to be phased in.The Treasury has announced that the mandation of MTD for ITSA will now be introduced from April 2026, with...

The chancellor has announced that the Spring Budget 2023 will be held on 15 March 2023.In a written statement, Chancellor of the Exchequer, Jeremy Hunt, announced he had asked the Office for Budget Responsibility (OBR) to prepare a forecast for 15...

The Office of Tax Simplification (OTS) has published its report on the tax complexities driven by hybrid working, including for periods where employees choose to work overseas. Key findings include:businesses see hybrid working as here to stay and...

HMRC is consulting on draft guidance published ahead of reforms to R&D tax reliefs on 1 April 2023. Draft legislation for the reforms was published for comment on 20 July 2022 and final legislation will be taken forward in Finance Bill 2023. The...

HMRC is consulting on draft Transfer Pricing Records Regulations 2023 which will give effect to the record-keeping requirements in the OECD transfer pricing guidelines for multinational enterprises and tax administrations 2022. The consultation...

HMRC has published new guidance on the definition of ‘associated companies’ in advance of the change to the corporation tax rate (see HMRC’s Company Taxation Manual at CTM03900 onwards)....

HMRC has published draft legislation and a new policy paper on the electricity generator levy. The draft legislation will introduce a tax on exceptional electricity generation receipts of qualifying generating undertakings from 1 January 2023 to 31...

The ATT has published analysis of how income tax basis period reform will interact with the averaging rules for farmers and creative artists. The report helpfully includes two worked examples.From April 2024, the existing basis period rules (the...

HMRC has published new guidance on how agencies, employers and workers should complete checks for, or report, potential payroll company fraud. The guidance Check for signs of payroll company fraud covers the following:definition of payroll company...