NEWS

HMRC has published two useful Stakeholder Digests recently.The 6 July 2022 edition covers the ‘L-Day’ announcement that draft Finance Bill 2023 legislation is to be published for consultation on 20 July, and also sets out various reminders for Making...

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors. Direct taxesManual Page Comments Capital Gains Manual Updated: CG-APP18-140 Some...

The government has confirmed that draft provisions for the next Finance Bill will be published on 20 July 2022, along with accompanying explanatory notes, tax information and impact notes, responses to consultations and other supporting...

Former education secretary Nadhim Zahawi is appointed as UK chancellor following the dramatic resignation of Rishi Sunak.Chris Sanger, EYs head of tax policy, said: The chancellors resignation could be a turning point in the...

The class 1 NICs primary threshold increased to £12,570 on 6 July 2022, bringing the threshold into alignment with the income tax personal allowance. This aimed to soften the impact of the health and social care levy, which increased various rates of...

Highlights from pension schemes newsletter 140 include the following:The tax treatment of interest payments which are made where a pension has been underpaid and the administrator pays arrears of pension. Interest payments will qualify as scheme...

The UK and Scottish governments have commissioned an independent report to evaluate the block grant adjustment funding arrangements for tax and welfare devolution against the principles agreed by the Smith Commission.The report is expected to be...

New regulations and practice guidance came into effect on 28 June 2022 for the remote observation of court and tribunal hearings (including in the tax tribunals).In summary, the new rules mean that members of the public can now observe video...

The new Registry of Overseas Entities will come into being when Part 1 of the Economic Crime (Transparency and Enforcement) Act 2022 is brought into force. The register will require overseas entities owning or buying property in the UK to provide...

HMRC has updated the following plastic packaging tax (PPT) guidance pages.Get tax relief on exported and converted components for plastic packaging tax: the main changes are to the guidance on claiming relief from PPT for packaging components which...