NEWS

HMRCs latest Stakeholder Digest includes the following:Making Tax Digital for VAT: from 1 November 2022, businesses will no longer be able to use their existing VAT online account to file their quarterly or monthly VAT returns and will instead...

Pinsent Masons reports that organised crime gangs have defrauded 367m from the Covid-19 support schemes. According to the firm, the Self-Employment Income Support Scheme (SEISS) was particularly vulnerable, given that the basic requirement for...

Recent figures show that HMRC collected 716bn in taxes in 202122, an increase of 22.5% over the previous tax year. Receipts from personal taxes including NICs were 394bn, mainly due to strength in both employee earnings...

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors. Direct taxesManual Page Comments Corporate Intangibles Research and Development...

In Treasury minutes published on 5 August 2022, the UK government has agreed with all recommendations in the Public Accounts Committees report Lessons from implementing IR35 reforms which was highly critical of the IR35 rules...

HMRC has updated the following research and development guidance:The overview section to HMRCs Claim Research and Development (RD) expenditure credit guidance clarifies when RDEC can be claimed and what tax...

HMRCs latest Employer Bulletin highlights three key PAYE changes:new improved digital version of the PSA1 form;variable payment plans from 19 September 2022; andcorrected guidance on the first full payment submission for new starters.The...

The ICAEW Tax Faculty has highlighted that HMRCs guidance on the tax treatment of the reimbursement of electricity costs for charging company-provided wholly electric cars conflicts with the law.The Tax Faculty has spotted that HMRCs...

HMRC has reviewed its trusts guidance to cover its duty of care where the sharing of trust information with third parties (for example, for anti-money laundering purposes) could expose the beneficial owner to a disproportionate risk of harm.In a new...

HMRCs August 2022 edition of the Newsletter covers the following:From September 2022, relevant persons must ask trustees or agents who are engaging in a new business relationship with them to provide proof of registration on the Trust...