NEWS

HMRC has published the text of the synthesised version of the 1981 Yugoslavia/UK double taxation convention (DTC), incorporating changes made by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit...

Germany, Pakistan and Barbados have deposited their instrument of ratification for the multilateral instrument. The MLI will enter into force on 1 April 2021 for all the three countries. This brings to 60 the number of jurisdictions which have...

Responding to the Ministry of Justice consultation Reforms to arrangements for obtaining permission to the Court of Appeal, the CIOT has raised concerns with the proposals to streamline and, in some cases, limit an unsuccessful litigant’s ability to...

HMRC has ‘dramatically failed’ to meet its target of 100 criminal prosecutions of wealthy individuals and corporates by 2020, according to information obtained by law firm Kingsley Napley. HMRC set itself the target in 2015 following criticism by the...

Changes to accounting for VAT for Northern Ireland and Great Britain from 1 January 2021: updated to cover the position where goods are sold by a UK seller to an EU customer, and the goods are sent by the seller from GB via NI. The VAT treatment...

Direct taxesManual Page Comments Business Income Manual Updated: BIM44550 Updated address to which reports should be sent where an employers contribution to an employee benefit trust contribution has been...

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 Leasing Manual Added:...

The CIOT has published a letter from HMRC setting out the governments intention to repeal the disclosable cross-border arrangements rules, which implement DAC 6 in the UK, and replace them with new legislation to implement the OECD mandatory...

In a letter to the CIOT, HMRC has confirmed that it has no plans to waive late filing penalties for online self-assessment tax returns due by 31 January 2021. However, penalties will not be imposed where filing on time was not possible because of the...

HMRC has confirmed that no late filing penalty will be imposed where the reporting company has a reasonable excuse for missing the filing deadline for corporate interest restriction returns, so long as the return is submitted within a reasonable time...