NEWS

HMRC has updated its guidance on the VAT treatment of goods sold on board ferries between Great Britain and Northern Ireland. Section 11 of VAT Notice 744A confirms that goods sold on board ferries between Great Britain and Northern Ireland continue...

HMRC has updated its guidance on sales of goods by members of a UK VAT group. VAT Notice 700/2 has been updated at section 7.3.2 to confirm the following:UK VAT groups can continue to include members that are established in Northern Ireland as well...

HMRC has updated the following guidance notes covering how VAT should be accounted for where businesses move goods from Great Britain to Northern Ireland: Exemption and partial exemption from VAT: a new section has been added on the VAT treatment...

HMRC has issued new regulations to remove the requirement for businesses to report sales of mobile phones and computer components. The Value Added Tax (Reverse Charge Sales Statements) (Revocation, Saving and Transitional Provision) Regulations, SI...

HMRC’s factsheet CC/FS48 Penalties for not telling HMRC about coronavirus job retention scheme grant overpayments has been revised to add guidance on how taxpayers can appeal a decision by HMRC to recover a grant and/or impose a penalty.The factsheet...

HMRC is consulting on the inclusion of cryptoassets in the investment transactions list of asset types used for the purposes of the investment manager exemption (IME) and certain fund tax regimes. The UK government intends to expand the investment...

The increase in the main rate of corporation tax to 25% from April 2023 will see the UK move from 6th to 21st place in the global corporate tax league table, reports accountancy firm UHY Hacker Young. The current 19% rate places the UK near the top...

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

The European Commission has published a draft directive on the debt-equity bias reduction allowance (DEBRA) initiative to address the asymmetry in the tax treatment of debt and equity. It will apply to all taxpayers that are subject to corporate...

Draft regulations (the Corporate Interest Restriction (Electronic Communications) Regulations 2022) provide that certain notices and returns relating to the corporate interest restriction (CIR) must be sent via an approved method of electronic...