NEWS

The UK has agreed protocols to the existing double taxation agreements with Sweden and Germany. The protocols are set out in the following Orders:The Double Taxation Relief (Sweden) Order, SI 2021/633, brings into effect arrangements set out in the...

HMRC has published further new and updated guidance for imports, exports and customs to reflect the post-transition period regime:EU business: EU Returned Goods Relief: new guidance advise businesses on how to claim Returned Goods Relief when they...

Businesses which pay VAT by direct debit but do not have an email address on record with HMRC will need to set up a new instruction via their Business Tax Account, if they want to continue to pay in this way. HMRC intends to write to affected...

The Taxation of Chargeable Gains (Gilt-edged Securities) Order, SI 2021/629 provides that ten specified securities are ‘gilt-edged securities’ and therefore gains on their disposal are not chargeable gains for CGT (or corporation tax on chargeable...

Having passed report stage and third reading (meaning no further material changes are possible), Finance Bill 2021 has been ‘substantively enacted’. The ICAEW reports that, under FRS 102, deferred tax must be measured using whatever tax rates have...

Online claims for the fifth SEISS grant covering May 2021 to September 2021 will open from ‘late July’ according to HMRC. Eligibility for the fifth grant will again depend on taxpayers being either self-employed or a member of a partnership and...

HMRC has updated its guidance Pay coronavirus job retention scheme grants back to help employers complete the relevant documentation to correct a previous overclaim when they make their next claim under the scheme. In essence, the future claim is...

HMRC has issued revised advisory fuel rates from 1 June 2021. The rates are to be used where employers either reimburse employees for business travel or require employees to repay the cost of fuel used for private travel in company cars. The revised...

The US Treasury published a statement on 20 May 2021 confirming that, in its discussions with the OECD’s steering group of the BEPS Inclusive Framework, it proposed that the global minimum tax rate should be at least 15%, while underscoring that this...

HMRC has confirmed its view that providers of further education can choose to treat supplies of that education as exempt from VAT (as opposed to being outside the scope of VAT as non-business activity).Revenue & Customs Brief 8/2021 sets out HMRC’s...