NEWS

Recent developments in tax.

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 Updated: BIM42105 Added...

The CIOT has responded to HMRC’s consultation on timely payment of tax, which seeks views on moving to more frequent calculation and payment based on current year information, saying it remains ‘unconvinced of the overall benefits to taxpayers’.‘It...

The CIOT has responded to the Treasury’s consultation on the policy design of the proposed residential property developer tax (RPDT). The new tax on large residential property developers is intended to raise revenue to fund measures to address unsafe...

The number of penalties issued to senior accounting officers by the HMRC has dropped from 148 to just 20 in the year to 31 March 2021, according to figures obtained by law firm Pinsent Masons.Jake Landman, a tax disputes expert at Pinsent Masons,...

The CIOT and ATT have responded to the Department for Business, Energy & Industrial Strategy (BEIS) consultation on restoring trust in audit and corporate governance noting that, although this was not a consultation about tax as such, there appears...

HMRC has published an updated version of its tax policy consultation spreadsheet, setting out the closing dates for a number of tax consultations....

HMRC has updated its factsheet CC/FS43: Compliance checks: penalties for enablers of defeated tax avoidance on the penalties it may charge enablers of tax avoidance which is subsequently defeated, to reflect changes made by FA 2021.The guidance on...

The OECD has published the stage 2 peer review monitoring reports for Argentina, Chile, Colombia, Croatia, India, Latvia, Lithuania and South Africa under the BEPS Action 14 minimum standard for the resolution of tax-related disputes. The reports...

The Irish Department of Finance has launched a public consultation on the OECD international tax proposals agreed at the OECD/G20 Inclusive Framework meeting on BEPS on 1 July. The consultation notes that: Ireland is ‘fully supportive of the pillar...

HMRC has published further new and updated guidance for imports, exports and customs to reflect the post-transition period regime:Pay less import duty and VAT when re-importing goods to the UK: updated to cover claiming returned goods relief where...

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