NEWS

HMRC has updated its plastic packaging tax (PPT) guidance to confirm the previously announced delay to the introduction of the requirement to include PPT statements with invoices (the idea being to demonstrate that PPT has been paid – thus...

HMRC has published new guidance setting out which gifts count towards the value of an estate, how they are valued and how much inheritance tax may be due. The new guidance walks through the various steps that need to be taken when valuing an estate...

The Income Tax (Qualifying Child Care) (Wales) Regulations, SI 2021/1344 amend ITEPA 2003 s 318C to ensure that employees who use qualifying tax-free childcare will continue to benefit from the existing income tax and NIC exemptions, following...

The Income Tax (Exemption of Social Security Benefits) Regulations, SI 2021/1341 exempt the following four new social security payments from tax, retrospectively from the dates they were introduced: winter heating assistance (WHA) (Scotland) from...

HMRC has published new guidance on clearance applications and how to apply for advance confirmation of an exempt distribution when a company purchases its own shares.The guidance is a step-by-step document covering straightforward situations when a...

HMRC has added a new section to its coronavirus job retention scheme guidance setting out how businesses should top up employees’ wages where they claimed a grant but did not pass on the full benefit.The new section If you’ve not paid your employees...

HMRC has updated its guidance to confirm that covid-19 grants and support payments are taxable and need to be declared on company tax returns.Reporting coronavirus (COVID-19) grants and support payments sets out which grants and support payments...

TaxWatch has urged HMRC to rescind the settlement agreement it reached with GE earlier in 2021 or face the prospect of judicial review of that decision. Court proceedings had culminated in the Court of Appeal finding that HMRC’s claim for rescission...

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors. Direct taxesManual Page Comments Capital Allowances Manual Added: CA23122,...

As part of its Tax administration and maintenance day announcements, the government has committed to develop a roadmap for future consultation on tax administration. Hidden away at the end of the document setting out the results of the wide-ranging...