NEWS

The Treasury Committee has called for evidence on a new inquiry into tax reliefs. The inquiry will examine the tax reliefs available to individuals and businesses, and explore whether these provide benefits to the broader economy. The call for...

Chancellor Zahawis lawyers have requested that Dan Neidle, founder of Tax Policy Associates and former head of tax at Clifford Chance, reconsider the false accusation of dishonesty made over Zahawis tax arrangements...

In the first opinion it has given in favour of the taxpayer, the GAAR advisory panel found that arrangements involving repayment of participator loans through transactions involving group companies were reasonable.The arrangements involved loans made...

The Treasury has published the Financial Services and Markets Bill, along with feedback on its recent Future Regulatory Framework consultations.In his first Mansion House speech as chancellor, Nadhim Zahawi noted that the Financial Services and...

The CIOT urges HMRC to clarify its guidance to make sure companies are aware that SDLT documents will be deemed to be properly served where they are posted to addresses other than the company’s principal place of business.The CIOT was responding to...

HMRC has developed a new VAT registration service to speed up the registration process. A key change is that every new taxpayer registering for VAT from 1 August 2022 will automatically be signed up to MTD as part of their general VAT registration...

From September 2022, HMRC will change the way VAT assessments are carried out for overseas online marketplace traders. HMRC will start sending VAT assessments instead of asking for information from traders, in cases where information held by HMRC...

HMRC has published an updated edition of its VAT partial exemption framework for NHS bodies which is intended to facilitate the agreement of partial exemption special methods.Although there does not appear to be any significant change to the...

The Customs (Additional Duty) (Russia and Belarus) (Amendment) (No 2) Regulations, SI 2022/833, impose additional duties of 35% on UK imports of certain products originating from Russia and Belarus. The regulations came into force on 20 July 2022....

The UK and Guernsey have signed a memorandum of understanding setting out how the arbitration process under article 25(5) of the UK/Guernsey Double Taxation Agreement (DTA) will be applied. This relates to the ‘mutual agreement’ part of the DTA,...