NEWS

HMRC has issued new guidance Publication by HMRC of information about tax avoidance schemes: section 86 Part 6 Finance Act 2022 explaining how the further measures to tackle promoters in FA 2022 s 86 will be applied in practice.With effect from 24...

Reflecting ongoing pandemic-related difficulties for some taxpayers and agents, HMRC has announced that coronavirus may be accepted as a reasonable excuse for appeals against 2020/21 late filing penalties.Agents can also submit bulk appeals against...

Bahrain and Romania have deposited their instruments of approval or ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (Multilateral Instrument or MLI) with the OECD. The...

The OECD has released a third batch of updates to the transfer pricing country profiles for 28 jurisdictions, updating the profiles for Brazil, Canada, Chile, China, Croatia, Dominican Republic, Estonia, Finland, Greece, Hungary, Israel, Korea,...

The EU has updated its list of non-cooperative jurisdictions for tax to add a number of countries including Russia, Bermuda, BVI and Israel, to Annex II. While Annex I lists those non-EU countries that encourage abusive tax practices which erode...

The Value Added Tax (Enforcement Related to Distance Selling and Miscellaneous Amendments) Regulations, SI 2022/226, correct a number of minor errors in the Northern Ireland one stop shop and import one stop shop schemes legislation (VATA 1994 Schs...

Revenue and Customs Brief 5/2022 explains that, where businesses are waiting for confirmation that their VAT grouping application has been accepted by HMRC, they should treat the application as provisionally accepted on the date it was submitted...

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...