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 DoubleTaxationRelief Manual Archived:...

Finance Act 2021 Sch 18 introduced two new special accounting schemes – the one-stop shop (OSS) and import one-stop shop (IOSS) so far as relevant to the UK’s obligations under the Ireland/Northern Ireland Protocol. The new schemes are set out in new...

The ATT has published a note from HMRC on the interaction between the UK property reporting service and self-assessment. HMRC wanted to highlight the case where an individual has been charged (and paid) more CGT following the in-year report of their...

HMRC has updated its guidance Changes to notifying an option to tax land and buildings during coronavirus (covid-19) extending n the temporary changes to the time limit and rules for notifying an option to tax land and buildings. HMRC had already...

The Finance Act 2020, Schedule 11 (Appointed Day) (Northern Ireland) Regulations, SI 2021/740, appoint the following dates for the coming into force of FA 2020 Sch 11 in relation to Northern Ireland:29 June 2021: paras 8 and 13 (which relate to...

HMRC has made two sets of regulations which make various amendments to VAT legislation to address errors and omissions identified as a result of a review of the EU exit legislation.1. The Value Added Tax (Miscellaneous Amendments and Repeals) (EU...

HMRC has published new guidance Tell HMRC you’re registered for the VAT import one stop shop in the EU for businesses that are registered for the VAT import one-stop shop (IOSS). From 1 July 2021, businesses that sell low-value goods in consignments...

HMRC has published new guidance on how to report and pay VAT due on the distance sales of goods from Northern Ireland to consumers in the EU using the one-stop shop (OSS) union scheme.Businesses which sell goods from Northern Ireland to consumers in...

HMRC has updated VAT Notice 700/46 to reflect changes to the underlying legislation which require businesses to leave the scheme and empower HMRC to remove them from the scheme.Sections 7.2 ‘When to leave the scheme’ and 7.3 ‘When can HMRC...

HMRC has updated VAT Notice 707 to cover the conditions for using the personal export scheme for zero-rating the supply of a motor vehicle that is removed from the UK by the purchaser. Section 8.4 ‘The VAT410 form’ is revised to set out the...

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