NEWS

Recent developments in tax.

The European Parliament has formally adopted a directive to amend the Accounting Directive 2013/34/EU. Multinationals and their subsidiaries with annual revenues over €750m, and which are active in more than one EU country, will now have to publish...

HMRC has published further new and updated guidance for imports, exports and customs to reflect the post-transition period regime:The Customs (Import and Export Declarations By Conduct) (Amendment) Regulations, SI 2021/1205: which make various...

HMRC is changing the VAT refund process for overseas traders which are registered for UK VAT but do not have a business address in the UK. Under the current process, where a repayment is due to these traders, HMRC’s systems automatically issue a...

HMRC has updated its guidance for employers Check if you can claim back statutory sick pay paid to employees due to coronavirus (COVID-19) to reflect that, from 1 January 2021, EU state aid rules no longer apply in the UK except for aid within the...

HMRC has published new guidance on joint and several liability notices which it can issue to individuals connected with a company which has received a covid-19 support payment to which it was not entitled and which is subject to (or likely to become...

HMRC has published new guidance on claiming enhanced first-year allowances and structures and buildings allowances in designated freeport tax sites. Check if you can claim the enhanced capital allowance relief in Freeport tax sites covers: the...

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors. Direct taxesManual Page Comments COTAX Manual Updated: COM71020 Confirmation that the...

Figures published by HMRC show that £428m of tax on cryptoassets is ‘under consideration’ for the tax year 2020/21, up from £142m the previous year. ‘Tax under consideration’ is an estimate of the maximum potential additional tax liability before...

HMRC is consulting on draft Plastic Packaging Tax (General) Regulations 2021 which will set out detailed administrative requirements for the operation of the new plastic packaging tax (PPT) from 1 April 2022. The aim of the consultation is to ensure...

On 8 November, the European Commission published details of its appeal in the Official Journal against the ruling of the General Court on 12 May 2021 that Luxembourg had granted 250 million in illegal state aid to Amazon through incorrect...

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