NEWS

HMRC has published its Stamp Taxes Newsletter for January 2021, covering the following—the SDRT 1.5% charge on issues of UK shares (or transfers integral to capital raising) remains disapplied under the terms of the European Union (Withdrawal) Act...

HMRC is updating its collection of excise notices to reflect the end of the Brexit transition period. So far, the following have been revised in January 2021:Excise Notice 39: spirits production in the UK.Excise Notice 85c: anti-forestalling...

HMRC has published a tax information and impact note explaining the UK’s integrated tariff schedule, setting out the rules for the classification of goods and the approach for determining the tariff applicable to those goods. The UK integrated tariff...

Direct taxesManual Page Comments Capital Gains Manual Updated: CG15500, CG16730 Updated guidance on section 35 of the Taxation of Chargeable Gains Act 1992 in relation to assets held on 6 April 1965....

HMRC made 18,464 requests to access communications data including phone records and web browsing histories to aid its criminal investigations in 2019, according to the latest Annual report of the Investigatory Powers Commissioner, a 60% increase from...

FST Jesse Norman has confirmed that the current 100% first year capital allowances, which are available for the purchase of electric vehicles in respect of business cars and zero emission goods vehicles, are being extended to 2025 in order to...

HMRC has published new guidance Receiving interest, royalties or dividends payments from the EU to remind taxpayers that, from 1 January 2021, since EU directives no longer apply to payments to the UK, some EU countries may start to deduct tax from...

The ATT has urged the UK government to extend the exemptions from income tax and NICs for employer-funded covid-19 testing until at least 5 April 2022 given the ongoing pandemic and the ‘real public benefit’ in encouraging employers to support such...

HMRC has launched a consultation on draft clauses that will allow employers to apply a zero-rate of secondary class 1 NICs on the earnings of veterans during the first year of their civilian employment. The measure aims to provide employers with up...

Government support should be extended to those business owners and self-employed individuals who have been left behind, says accounting and tax practice Blick Rothenberg. Simon Rothenberg, director at the firm commented: ‘The self-employed income...