NEWS

Recent developments in tax.

HMRC has updated its guidance Find examples to help you calculate your employees’ wages. The example showing how to calculate the amount that should be claimed for an employee who is flexibly furloughed during June 2021 has been revised. ...

The Treasury Committee has published the UK government’s response to the Committee’s report Tax after coronavirus, together with commentary on a number of points in the response. Key points from the response include the following:The government...

Applications for HMRC’s VAT deferral new payment scheme close on 21 June 2021. The scheme allows VAT previously deferred during the early months the pandemic in 2020 to be paid in monthly instalments....

HMRC has updated its guidance Pay less import duty and VAT when re-importing goods to the UK to cover returned goods relief where goods are exported from Northern Ireland, and time limits for claiming relief where the goods were located in the EU on...

The European Commission has published guidance for EU exporters on the UK’s deferred import formalities which apply until 31 December 2021.The European Commission notes that, until 31 December 2021, authorised UK importers can defer customs...

HMRC has republished the Tariff of the UK document. A version 1.4 had been published on 2 June but appears to have been rolled back to version 1.3 which was dated 27 April 2021 and is referenced in the Customs Tariff (Establishment) (EU Exit)...

HMRC has published further updated guidance for imports, exports and customs to reflect the post-transition period regime:Excise Notice 197: Receive goods into and remove goods from an excise warehouse: updated section 13.10.1 on how to deal with...

The OECD has published comments received on proposed changes to commentaries in the OECD Model Tax Convention on Article 9 and related articles. Article 9 of the Model Tax Convention covers transfer pricing. An OECD working party will consider the...

G7 finance ministers have reached agreement on the two-pillar approach to taxation of the digital economy, with the ‘largest and most profitable’ MNCs required to pay tax in the countries where they operate rather than where they have their...

EU member states have provisionally reached political agreement on the draft EU Directive on public country-by-country reporting. The Directive would require MNCs with total revenue of at least €750m to publicly disclose annually the corporate tax...

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