NEWS

Recent developments in tax.

The Customs (Northern Ireland) (EU Exit) Regulations 2020 (Appointed Day) Regulations, SI 2021/983, bring Chapter 5 of the Customs (Northern Ireland) (EU Exit) Regulations, SI 2020/1605 into force, for certain purposes, from 4 September 2021. Chapter...

HMRC has updated VAT Notice 725 VAT on movements of goods between Northern Ireland and the EU to expand s 6 ‘Supplies to customers (including private individuals) who are not registered for VAT’ to reflect changes to the VAT treatment of distance...

The Value Added Tax (Treatment of Transactions) (Revocation) Order, SI 2021/1023, revokes the Value Added Tax (Treatment of Transactions) Order, SI 1992/630, in order to ensure that the 1992 Order cannot be ‘exploited’ by government departments in...

The Treasury has made a further Direction extending the support scheme for working households receiving tax credits to 2022/23. The extension aims to provide the £500 support payment to those in receipt of working tax credit but who did not qualify...

The Social Security (Up-rating of Benefits) Bill will ensure that for 2022/23, the state pension and certain other benefits will increase by the greater of 2.5% and inflation (consumer prices index). The average annual increase in UK earnings (which...

The Tonnage Tax (Training Requirement) (Amendment etc) Regulations, SI 2021/1030, increase the amounts to be used in calculating payments made in lieu of training under the principal Tonnage Tax (Training Requirement) Regulations, SI 2000/2129. Under...

The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Amendment of Schedule 10) Regulations, SI 2021/1029, substitute a new Sch 10 to the Corporate Insolvency and Governance Act 2020 to introduce new tapering measures restricting the use of...

The Insolvency (England and Wales) (No 2) (Amendment) Rules, SI 2021/1028, provide permanent procedural rules for the company moratorium procedure which was introduced into the Insolvency Act 1986 by the Corporate Insolvency and Governance Act 2020....

The CBI has warned of a further backlash over rising taxes for the corporate sector which risk undermining business investment. Tony Danker, head of the CBI, accused the government of ‘taking the easy option’ of turning to companies to fund higher...

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 Allowances Manual Updated: CA45100 ...

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