NEWS

A new report by PwC has found that 50 of the FTSE 100 companies are voluntarily disclosing total tax contributions and tax-related climate impact as part of their annual disclosures – up from 47 in 2020.The report Tax transparency in an ESG era also...

HMRC has provided an update on its recent pausing of RDTC payments while it investigates an increase in irregular claims. HMRC says that to prevent abuse of the relief it will be enhancing its extensive compliance checks. These additional checks will...

HMRC has published the text of a new treaty and protocol to replace the 1967 UK-Luxembourg convention that is currently in force. The new convention signed on 7 June 2022 is not yet in force.Ben Eaton, shareholder at Greenberg Traurig, said the new...

The following regulations have been published:The Customs Tariff (Preferential Trade Arrangements) (Amendment) Regulations, SI 2022/613. These Regulations update references in the principal Preferential Trade Arrangements Regulations (SI 2020/1457)...

HMRC has issued revised advisory fuel rates for company cars which apply from 1 June 2022. All of the rates have been increased since the previous update on 1 March 2022, reflecting the sharp increase in fuel prices over the period.The latest rates...

HMRC has responded to a query raised by the ICAEW in one of its employment and payroll groups to confirm that PAYE codes which have been adjusted for claims made online for working from home (WFH) expenses of £6 per week will not be carried forward...

HMRC has updated its guidance on the qualifying asset holding companies (QAHC) rules (introduced on 1 April 2022 by FA 2022). The guidance, set out at para IFM40260 of HMRC’s Investment funds manual confirms (in example 4) that loan origination is...

In joined cases T-363/19 (UK v Commission) and T-456/19 (ITV v Commission), the General Court of the EU has dismissed the applications for annulment of the Commission’s April 2019 decision which found that the group finance exemption (GFE) from the...

The Designation of Freeport Tax Sites (Plymouth and South Devon Freeport) Regulations, SI 2022/643, designate the freeport tax sites for the Plymouth and South Devon Freeport with effect from 4 July 2022.Tax reliefs available in freeport tax sites...

HM Treasury has confirmed that the implementation of the OECD Inclusive Frameworks global minimum tax (pillar two) rules in the UK will take effect for accounting periods beginning on or after 31 December 2023 and not April 2023 as...