NEWS

The CIOT and Law Society have both responded to HMRCs consultation Simplifying the VAT land exemption which closed on 3 August 2021.The CIOT does not favour of a major overhaul of the VAT rules for land and property at this time...

HMRC has added the UK/USA Competent Authority Agreement (CAA) signed in July 2021 to its international treaty collection. The agreement provides that UK residents can continue to be considered as a resident of a member state of the European...

The OECD has published new and revised transfer pricing country profiles for 20 jurisdictions, adding new sections on financial transactions and the application of the authorised OECD approach (AOA) to attribute profits to permanent...

The OECD has published the results from its latest peer review of preferential tax regimes. At its April 2021 meeting, the OECDs Forum of Harmful Tax Practices presented new peer review results for preferential tax regimes as part of its work...

HMRC launched 529 SDLT investigationsin 2020/21 - 75% fewer than in the previous tax year - according to figures obtained by law firm Boodle Hatfield.The 529 figure for 2020/21 represents a five year low, with the numbers of cases in...

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 Updated: CG65356 ...

HMRC has confirmed that its Family Investment Companies Unit has now completed its work and will be subsumed into HMRC's Wealthy and Mid-sized Business Compliance directorate. In a report to the Wealthy External Stakeholders Forum, HMRC explained...

HMRCs Offshore, Corporate and Wealthy (OCW) Unit secured convictions totalling 67 years of prison time for tax evaders in 2020/21, nearly treble the total of just 23 years secured the year earlier, says law firm Pinsent Masons.The...

Robert Salter a director at Blick Rothenberg, said: In a move which can only be described as Orwellian, the Department for Work Pensions (DWP) has been fined over 87m in tax, NICs and associated penalties by HMRC for their...

HMRC has updated the two annexes to Statement of Practice 1/2010which covers HMRC business that can be conducted by telephone. Revised Annexes A and B incorporate changes to the way a tax return can be amended to correct an entry relating to...