NEWS

HM Treasury has announced the launch of the UK transition plan taskforce to help drive decarbonisation by ensuring that financial institutions and companies prepare rigorous plans to achieve net zero. It will bring together leaders from industry,...

Belize and Cameroon have deposited their instruments of ratification for the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting (convention or MLI) with OECD. For Belize and Cameroon, the...

The Society of Trust and Estate Practitioners (STEP) has published a position paper EU sanctions against trusts with a ‘Russian connection’ which aims to provide guidance for trust and company service practitioners who need to withdraw their services...

HMRC is to revoke its classification of the Moscow Stock Exchange (MOEX) as a recognised stock exchange, meaning future investors will no longer be able to access certain UK tax benefits when trading securities on MOEX, such as exemption from...

The OECD has published responses received to its consultation on the draft model rules for domestic legislation on scope under pillar one amount A. This was the consultation on rules which would determine whether an MNE will be in scope of amount...

UK businesses and consumers have paid 62% more in customs duties on goods imported to the UK over the last year as Brexit customs changes bite, says UHY Hacker Young, the national accountancy group.UK businesses and consumers paid £4.8bn in customs...

VAT Notice 700/64: Motoring expenses has been updated to reflect HMRC’s change of policy on the VAT treatment of early termination payments under a lease which, from 1 April 2022, are generally treated as subject to VAT.Where a business terminates...

HMRC has published its annual update to the VAT road fuel scale charges which are used by businesses to account for VAT on private use of fuel in a business car. The new scale rates apply from 1 May 2022.The fuel scale charge is a simplified method...

The Pensions and Lifetime Savings Association (PLSA) has published additional information on HMRC’s guaranteed minimum pension (GMP) equalisation guidance on pensions tax considerations when equalising benefits for the effects of inequalities in...

HMRC has launched a consultation seeking views on legislative proposals to extend an existing concession that removes trusts and estates from income tax where the only source of income is savings interest and the tax liability is below £100. Trustees...