NEWS

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.Direct taxesManual Page Comments Business Income Manual Archived: BIM82815 ...

HMRC has published Spotlight 58 on disguised remuneration: tax avoidance using unfunded pension arrangements, which highlights arrangements used by owner-managed companies to reward directors for the services they provide to the company while seeking...

HMRC’s updated its construction industry scheme guidance CIS 340, which notes how CIS payments and deductions should be reported to HMRC for individual traders and partnerships, as follows:individual traders should report on the self-employed...

HMRC has published regulations supplementary to Finance Act 2021 Sch 2 that introduces the temporary extension to the trading loss carry-back rules from 12 months to three years for companies and unincorporated businesses.The Corporation Tax (Carry...

HMRC’s Employer Bulletin for June 2021 covers recent tax and payroll-related developments for employers and agents, and highlights the ‘disability confident’ scheme which sets out a series of commitments for employers to move towards creating an...

The National Insurance Contributions Bill 2021 completed its second reading in the House of Commons on 14 June 2021 and will now move onto the committee stage. The Bill will:introduce a new secondary class 1 NICs relief for employers of freeport...

HMRC has updated its guidance on the conditional exemption tax incentive scheme to deal with variations to the scheme arising from issues related to the coronavirus pandemic. The scheme provides exemption from IHT and CGT on the transfer of national...

HMRC has issued a reminder that working parents can use the tax-free childcare scheme to help pay for childcare costs over the summer. The scheme operates by providing a government top-up to money deposited into a childcare account, with the funds...

Several customs-related statutory instruments have been made.The Taxation (Cross-border Trade) (Miscellaneous Amendments) (EU Exit) Regulations, SI 2021/697, come into force on 1 July 2021 and extend the staged customs controls, which have been in...

HMRC has published ‘Revenue and Customs Brief 9/2021 confirming that the VAT exemption for welfare services does not apply to private welfare institutions or agencies which supply daycare services in England and Wales and are not state regulated.The...