NEWS

The Value Added Tax (Amendment) Regulations, SI 2021/986, enact the extension of MTD for VAT. They confirm that VAT-registered businesses with a turnover less than 85,000 will be subject to the MTD VAT rules from their first VAT period...

HMRC has updated its guidance on accounting for import VAT on the VAT return, to address a problem with monthly VAT statements which has caused difficulties for businesses which use simplified declarations for imports.Where businesses import goods...

The Trust registration service (TRS) is now open for non-taxable trust registrations.The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations, SI 2020/991 introduced changes into the UKs principal Anti-Money Laundering...

HMRC has published details of the settlement offer that drops HMRC's claim in respect of approximately 1.6bn of dry tax which HMRC said was due from around 700 Eclipse members as a result of their participation in the Eclipse...

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 Gains Manual Archived: CG-APP15, CG-APP16 ...

HMRC has published a new factsheet setting out the information and documents that financial institutions will need to provide to HMRC if they receive a financial institution notice (FIN).Compliance checks series Factsheet CC/FS60 Financial...

HMRC has issued revised advisory fuel rates from 1 September 2021. The rates per mile have increased slightly (mostly by 1p) for petrol and diesel cars and reduced for cars propelled by LPG....

HMRC has issued updated guidance Stamp duty land tax relief for land or property transactions to add a new section on seeding relief for property authorised investment funds (PAIFs) and co-ownership authorised contractual schemes (COACs).Taxpayers...

Responding to the Treasury’s business rates review consultation, which considered more frequent revaluations, the CIOT considers the following:the consultation does not adequately address the interaction of the proposed three-yearly cycle with the...

Following a short consultation from 20 July 2021, the government has confirmed that it will proceed to make The Value Added Tax (Treatment of Transactions) (Revocation) Order 2021 with no changes. The Order will revoke the VAT (Treatment of...