NEWS

Recent developments in tax.

The Office of Tax Simplification (OTS) has published a further review of HMRC’s guidance for taxpayers, updating its October 2018 report Guidance for taxpayers: a vision for the future. The review finds that HMRC has made considerable progress...

HMRC yearly average and spot exchange rates: yearly averages to 31 March 2021, and spot rates on 31 March 2021, have been added.Employer Bulletin (April 2021): covering CJRS guidance, the one-off 500 support payments for working households...

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 Income Manual Added: BIM85703 ...

The Institute for Fiscal Studies has published a report The Scottish Governments record on tax and benefit policies, concluding that the Scottish governments tax and benefit policies have created a more progressive system in Scotland...

In March 2021, the CIOT reported that HMRC was undertaking ‘routine checks’ to ensure self-assessment repayment claims were genuine, and to identify potential compliance risk. According to HMRC, those checks were undertaken where ‘risk indicators’...

The Treasury has issued a formal direction setting out the terms for the fourth claim under the SEISS. The direction covers claims for the period from 1 February to 30 April 2021. The fourth taxable grant is worth 80% of average monthly trading...

HMRC has published a roundup of recent guidance covering the various coronavirus support options for businesses – highlighting the fourth SEISS grant, including the terms for eligibility which are based around there being a significant reduction in...

HMRC has updated its guidance CIS 340 to reflect changes introduced to the construction industry scheme (CIS) from 6 April 2021 to prevent abuse of the CIS set-off process.The revised guidance covers:changes to the deemed contractor rules, which now...

HMRC has made the following updates to its coronavirus job retention scheme (JRS) guidance:claims for furlough days in March 2021 must be made by 14 April 2021;for claim periods starting on or after 1 May 2021 and where the employee is not eligible...

HMRC has updated its guidance Check when you can account for import VAT on your VAT return, to cover imports of goods that will be used solely for a non-business purpose, and where the business is a body eligible to reclaim import VAT through a VAT...

Go to page of 1116