NEWS

The arrangements here sought to avoid tax on a loan by a pension scheme to a member of the scheme, which would ordinarily be caught by the unauthorised payment charge. The arrangement involved the purchase by the pension scheme of an ‘investment...

The Income Tax (Pay As You Earn) (Amendment) Regulations, SI 2022/1243, specify the information an employee must provide to HMRC to evidence their entitlement to tax relief in relation to certain allowable expenses.The regulations amend the Income...

HMRC has incorporated the following two general updates into its guidance Sign up as an individual for making tax digital for income tax:the series of steps to be taken before using MTD for ITSA now advises agents to check whether and when their...

The UK government has tabled amendments to the Stamp Duty Land Tax (Reduction) Bill to place the increases to the residential nil-rate thresholds, initially announced in Growth Plan 2022 (and which took effect from 23 September 2022), on a temporary...

HMRC’s November newsletter covers the recent public service pensions remedy newsletter (which explains the potential tax implications where reinstatement of pension benefits is made under the scheme – see also the consultation on the draft Public...

HMRC has confirmed that form IHT205 (which is required for excepted estates where the person died on or before 31 December 2021) will not be available via the online service after 31 December 2022. HMRC’s notes give the following advice for...

In a revision to its main guidance Tell HMRC about capital gains tax on UK property or land if you’re not a UK resident, HMRC has clarified when a return needs to be filed using the capital gains tax on UK property account (including the reporting...

HMRC is consulting on Draft Indirect Taxes (Notifiable Arrangements) (Amendment) Regulations 2023. The draft regulations will amend the descriptions of various tax avoidance arrangements in the principal regulations (the Indirect Taxes (Notifiable...

HMRC has added a new section to its VAT Notice 700/12: How to fill in and submit the VAT return setting out clear guidance on a number of very basic points relating to completion of paper versions of the VAT return, suggesting that it receives...

Responding to the Scottish government consultation on developing a Scottish tax to replace the UK aggregates levy, the CIOT notes:a devolved levy on primary aggregates could support Scotland’s broader circular economy ambitions (in essence, unlinking...