NEWS

Recent developments in tax.

The Customs Tariff (Preferential Trade Arrangements and Tariff Quotas) (EU Exit) (Amendment) Regulations, SI 2021/382, amend two sets of regulations (SI 2020/1457 and SI 2020/1432) to implement preferential customs import duty rates agreed under...

The government has added a ‘decision-making note’ to its freeports bidding prospectus guidance, outlining how decisions are taken on the selection of successful freeport locations in England....

The government is extending the VAT reverse charge to cover supplies of emissions allowances made under the UK emissions trading scheme that replaced the EU scheme in Great Britain on 1 January 2021. The Value Added Tax (Section 55A) (Specified Goods...

The CIOT has published its response to the Treasury call for evidence on VAT and the sharing economy which closed on 3 March 2021. In summary, the CIOT response proposes:a working group should be set up to include representatives from the relevant...

HMRC has updated its guidance Changes to notifying an option to tax land and buildings during coronavirus (covid-19) to reflect the further extension of the period during which an option to tax can be notified within 90 days of the date the decision...

HMRC is to speed up its processes for dealing with requests from businesses to make coronavirus-related changes to their partial exemption special methods. Revenue & Customs Brief 4/2021 announces that HMRC will consider and, where appropriate,...

HMRC has updated its guidance on the conditional exemption tax incentive scheme to extend the date for the temporary changes made as a result of the coronavirus pandemic. The temporary changes now apply until July 2021....

The Automatic Enrolment (Earnings Trigger and Qualifying Earnings Band) Order, SI 2021/314, sets out revised automatic enrolment amounts for the 2021/22 tax year for qualifying workplace pension schemes. The Order maintains the automatic enrolment...

The government is extending a number of the temporary insolvency protection measures introduced during the coronavirus pandemic to protect otherwise viable businesses which have struggled to continue trading as a result of the lockdown restrictions....

HMRC has introduced a route for agents representing individuals and businesses to submit a bulk appeal for late-filing penalties from 24 March 2021 on behalf of their clients, where coronavirus is being claimed as a reasonable excuse for late filing...

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