NEWS

The Law Society has responded to HMRCs consultation on the draft Stamp Duty Land Tax (Administration) (Amendment) Regulations 2021, which are expected to introduce the 2% surcharge for non-residents from April 2021. Among its key concerns, the...

HMRC has updated its guidance SDRT: penalties and appeals to expand the section on penalties for missing a notification or payment deadline on or after 1 January 2015. In addition to the standard late-notification penalties, HMRC can charge daily...

Bahrain has signed up to the OECD multilateral convention to implement tax treaty related measures to prevent BEPS (multilateral instrument or MLI), and Chile has deposited its instrument of ratification. 95 jurisdictions have now signed up, and so...

The Commission has invited public comments on the impact assessment a proposed revision to the Directive on Administrative Cooperation (which would be DAC 8) by 21 December 2020. This follows the Commissions adoption, in July 2020, of the...

HMRC has published a new policy paper HMRC as a preferential creditor to explain how taxes paid by a companys employees and customers are protected in insolvency procedures commencing after 1 December 2020.From that date, HMRC is a secondary...

HMRC is currently conducting 200 criminal investigations into enablers of tax evasion a surprisingly high number, according to law firm RPC. Michelle Sloane, partner at RPC, said: HMRC is now focusing on all links in the tax evasion...

HMRC imposed 108m in penalties for late payment of self-assessment tax for 2018/19, reports accountancy firm Moore. The firm points out that for 2019/20 many taxpayers will face a tax bill twice the normal size, where their 31 July 2020...

Apply for approval as a registered consignor of excise goods: new guidance covering how to apply to operate as a registered consignor of excise goods.Additional data element required for goods held in temporary storage or a special procedure, which...

Direct taxesManual Page Comments Capital Gains Manual ​Updated: CG60310 Updated guidance on claiming roll-over relief. Updated: CG15700, CG15703, CG15710, CG15725, CG15740, CG15742, CG15744 Updated guidance on...

HMRC has confirmed that the annual parties exemption in ITEPA 2003 s 264 can apply equally to virtual parties, such that the cost of providing food, entertainment, equipment and other expenses which may be incurred in hosting a virtual event, will be...