NEWS

For most taxes and payments, the late-payment interest rate will increase to 4.75% and the repayment rate to 1.25%, from 11 October 2022. Interest charged on underpaid quarterly instalment payments of corporation tax will be 3.25%, and interest paid...

The Economic Crime and Corporate Transparency Bill has the following three broad objectives, as set out in the high-level summary provided in the Explanatory Notes to the Bill: Prevent organised criminals, fraudsters, kleptocrats and terrorists from...

HMRC’s latest update highlights the following:Capital allowances decision tool and calculator: HMRC has published an interactive tool to help companies check if they can claim the super-deduction or the special rate first-year allowances for...

The UK government has published detail of its new energy price support scheme for non-domestic customers in Great Britain. The Energy Bill relief scheme is separate to the governments energy price guarantee scheme for domestic households...

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: CG73996D...

HMRC has published a policy paper confirming that new regulations will ensure that the existing exemption from counteraction under the hybrid and other mismatch rules for certain hybrid capital and debt instruments issued by banks continues to apply...

In a written statement, the UK government has confirmed that amounts paid by an employer to an employee to reimburse the cost of business travel in the employee’s own vehicle are only free of tax and NICs if those payments are within the approved...

New data published by HMRC shows that IHT receipts for April to August 2022 were £2.9bn. This is £0.3bn higher than the previous year.   Julia Rosenbloom, tax partner at Evelyn Partners, commented: ‘This latest reported year-on-year rise for IHT...

On 14 September, European Commission President Ursula von der Leyen delivered her 2022 State of the Union address setting out two tax-related measures targeting companies in the energy sector: a revenue cap to a maximum of €180 per MWh on low-cost...

The OECD has published new Stage 2 peer review reports evaluating the progress made by 13 jurisdictions in implementing recommendations resulting from their Stage 1 peer reviews under BEPS Action 14 (minimum standard to improve the resolution of...