NEWS

Direct taxesManual Page Comments Capital Gains Manual Added: CG67900P, CG67900, CG67920 CG67900P, a new landing page, which provides links to content on appropriations to and from stock in trade has...

HMRC has launched a technical consultation seeking views on revised draft guidance on the new requirement of Finance Bill 2021/22 which requires large businesses to notify HMRC of uncertain tax treatments (UTT) in respect of relevant...

The CIOT has put forward a detailed submission in response to the government consultation, highlighting a number of recommendations.The CIOT says a re-domiciliation regime that permits inward and outward re-domiciliation will be helpful for...

HMRC has issued further details following its 6 January 2022 announcement on the relaxation of self-assessment late filing and payment penalties for 2020/21 tax returns. Key points include:Self-employed taxpayers who need to claim certain...

HMRC has issued new guidance (para 3.2.3) that covers the situation where a taxpayer has paid more CGT on their property return than is found to be due on completion of their self-assessment return. For 2020/21, the guidance notes that advisers will...

In a written ministerial statement, the Financial Secretary to the Treasury has announced that the planned reform of the VAT penalties and interest regime for late filing and payment will be delayed until 1 January 2023. Finance Act 2021 set out the...

The CIOT has published HMRC guidance on how businesses should account for VAT while waiting for HMRC to approve (or otherwise) their VAT grouping applications.The guidance states that, while the VAT grouping application is in process, VAT-registered...

The Welsh Revenue Authority (WRA) has published guidance on its tax avoidance and evasion policy in relation to the two devolved taxes it currently manages – land transaction tax and landfill disposals tax.The guidance focuses particularly on...

HMRC is urging tax agents and accountants to remind their clients that various covid support grants and payments are taxable and should be declared on their company tax returns.Taxable covid support grants and payments, for example including test and...

Self-employed individuals and members of partnerships who could not make a claim under the self employment income support scheme (SEISS) because of an HMRC error, have been asked to contact HMRC.HMRC’s updated SEISS guidance asks those who have not...