NEWS

HMRC has published settlement terms for companies or individuals who have used certain tax avoidance schemes involving remuneration trusts. HMRC report that these schemes do not work to deliver the tax free environment they claim and...

Employees who were required to work from home during the pandemic, and who claimed the 6 per week tax relief, should review their tax code to check whether HMRC has included the relief in their notice of coding, advises accountancy firm Blick...

HMRC’s recent Stakeholder Digest (11 April 2022) highlights the following:Ukraine tax relief and guidance – legislation will be introduced to confirm tax reliefs in relation to the Homes for Ukraine Scheme.NICs reliefs for employers of veterans – the...

HMRC’s Managing pension schemes service newsletter for April 2022 confirms that scheme administrators can now migrate pension schemes registered on the pension schemes online service to the managing pension schemes service (MPSS). The newsletter...

HMRC has updated its guidance document HMRC issue briefing: settling disguised remuneration scheme use and/or paying the loan charge. Various sections are either added or updated, clarifying existing practice in relation to the loan charge. Points to...

HMRC has updated its Using making tax digital for income tax guidance to expand the section Who can use making tax digital for income tax to cover circumstances where users are not yet able to sign up.The guidance notes that taxpayers can sign up...

Following a consultation, the government has announced its intention to legislate to regulate stablecoins (a form of cryptoasset which aims to maintain a stable value relative to other assets). This development is intended to pave the way for...

The Advisory Group for Global Dialogue on Tax Matters has held the first meeting under its new mandate, reflecting developments in international tax cooperation over the past decade. The statement of outcomes from the meeting includes the...

The OECD has published nine stage-2 peer review reports under BEPS Action 14 (minimum standard to improve the resolution of tax-related disputes). The reports cover Andorra, Bahamas, Bermuda, British Virgin Islands, Cayman Islands, Faroe Islands,...

As previously announced as part of its ongoing implementation work for pillar one, the OECD has launched its consultation on the ‘extractives exclusion’ which will exclude profits from extractive industries from the scope of amount A.The exclusion...