NEWS

Revenue and Customs Brief 4/2022 announces that third-party claims directly against HMRC for refunds of VAT overpaid to a supplier can no longer be made from 1 January 2021, following the UK’s departure from the EU.Under VATA 1994 s 80, only those...

The Tax Credits, Child Benefit and Guardian’s Allowance Uprating Regulations, SI 2022/231, formally confirm the rates, amounts and thresholds for working tax credit and child tax credit, alongside the rates of child benefit and guardian’s allowance,...

The OTS has published a review paper on the high income child benefit charge (HICBC) and its interaction with child benefit claims and National Insurance credits. In its 2019 Life events review’ report, the OTS made the following key...

The Social Security (Contributions) (Rates, Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations, SI 2022/232, give effect to the following from 6 April 2022:increases in the flat-rate class 2 and 3 weekly...

The CIOT has responded to the Scottish government’s call for evidence on the land and buildings transaction tax additional dwelling supplement (ADS). Key points include:Timelines: the current 18-month deadline for sale of the main residence and the...

The National Insurance Contributions Bill is in the final stages of progressing through Parliament with amendments passing back and forth between the Commons and Lords. The House of Commons has approved the following 10 amendments to the Bill that...

HMRC has published new guidance for businesses wanting to enter the qualifying asset holding companies (QAHC) regime, covering the qualifying criteria for the company, the requirements for notifying HMRC, and preparation of the QAHC return (see...

HMRC has published new guidance confirming that the corporation tax online service will be updated in April 2022 to support claims for the following allowances:super-deduction and 50% first-year capital allowances for qualifying expenditure on plant...

The Income Tax (Pay As You Earn) and the Income Tax (Construction Industry Scheme) (Amendment) Regulations, SI 2022/227, allow HMRC to issue Directions setting out how employee expenses should be provided HMRC, and make changes to the rules on...

The following three sets of Regulations have been made to designate freeport tax sites within the East Midlands, Liverpool City and Solent freeports from 22 March 2022:Designation of Freeport Tax Sites (East Midlands Freeport) Regulations, SI...