NEWS

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

HMRC has updated its guidance Making your Self Assessment payments including Class 2 National Insurance contributions to note that taxpayers who owe up to £30,000 in tax will be able to set up an online Time to Pay instalment arrangement up to 60...

Tax Journal thanks its authors for February (click on links below to view author profiles and for details of articles).

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: CA23085 ...

Self-assessment taxpayers will not be charged the 5% late payment penalty if they pay their tax or set up a payment plan by 1 April 2021, HMRC has announced.The penalty is normally charged on any unpaid tax that is still outstanding 30 days after the...

In response to the Public Accounts Committee’s 23rd report (bounce back loan scheme) and 34th report (support for jobs) from the 2019/21 parliamentary session, the government says that it agrees with the majority of the recommendations made by the...

The government has said it will now publish its final report on the fundamental review of business rates in Autumn 2021.The fundamental review of business rates was announced in last year’s Budget, and this was followed by a call for evidence in...

HMRC has published new anti-money laundering guidance to help accountancy service providers (ASPs), including tax advisers, recognise and reduce the risk of money laundering.Understanding risks and taking action for accountancy service providers...

Enquiries into large businesses’ tax affairs handled by HMRC’s Large Business Directorate were open for an average of 45 months in 2019/20, up from 43 months in the previous tax year, and 34 months in 2016/17, according to law firm Pinsent Masons.The...

The Treasury is to publish a number of tax-related documents and consultations on 23 March, rather than alongside the 3 March Budget which, the Treasury says, ‘will ensure tax professionals have a better opportunity to feed into consultations and...