NEWS

HMRC has launched a technical consultation seeking views on draft regulations which will widen the scope of the alternative finance arrangements tax rules which allow finance to be provided without the payment of interest. The draft Alternative...

Lesotho, Thailand and Vietnam have signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the MLI). They now bring the number of jurisdictions which have ratified, accepted or approved...

HMRC has published further new and updated guidance for imports, exports and customs to reflect the post-transition period regime:Border Protocol Delivery Group weekly newsletter: the CIOT has published an update from the Border Protocol Delivery...

The Plastic Packaging Tax (General) Regulations, SI 2022/117, set out the detailed administrative requirements for the plastic packaging tax which was introduced by FA 2021. In particular, the regulations specify when a plastic packaging component...

The Scottish Landfill Tax (Standard Rate and Lower Rate) Order, SSI 2022/46, specifies the standard rate and lower rate for Scottish landfill tax for disposals on or after 1 April 2022. The standard rate is £98.60 and the lower rate is £3.15....

The Treasury is consulting on potential changes to the UK customs regime which the Treasury says will position it as being ‘at the cutting edge globally in terms of its openness, dynamism and capacity to advance the UK’s status as a leading hub for...

The European Commission has proposed to extend existing anti-fraud reverse charge powers in the principal VAT Directive (2006/112/EC) until 31 December 2025.Under articles 199a and 199b of the Directive, EU member states are allowed to introduce...

HMRC has produced a table which sets out the effective time frame for the late-submission and late-payment penalties (and associated interest) for VAT from 1 January 2023. The table, published via the CIOT, sets out the first affected accounting...

HMRC has published a new overview of the secondary class 1 NICs zero rate for employers of veterans. One complication for employers was that, although the relief came into effect from the start of 2021/22, secondary NICs would need to be paid as...

HMRC has updated its Repaying a disguised remuneration loan to a third party policy paper to reflect updated guidance on whether the loan agreement is unenforceable.The guidance confirms that, where taxpayers have been contacted by a third party...