NEWS

With just weeks to go until the UK leaves the EU single market and customs union, regardless of whether a new EU/UK deal is reached, a report from the Institute for Government warns that:the Northern Ireland Protocol will not be ready to implement on...

HMRC has sent a further 250,000 letters and emails to VAT-registered businesses, advising them to act now to continue trading with Europe from 1 January 2021. The letter urges businesses to immediately appoint a specialist to handle...

The chancellor announced, in his statement to parliament on 9 November 2020 on the future of UK financial services, that from 1 January 2021, businesses will be able to reclaim input VAT attributable to the export of certain financial services...

The Customs (Declarations) (Amendment and Modification) (EU Exit) Regulations, SI 2020/1234, introduce a number of changes to allow customs procedures to continue to operate efficiently at the end of the Brexit transition period and to facilitate the...

Although the VAT temporary zero rate for supplies of personal protective equipment (PPE) came to an end on 31 October 2020, the Trade Association for Instrumentation, Control, Automation and Laboratory Technology (GAMBICA) has published new...

The UK government is consulting industry (until 5 February 2021) on measures to improve the administration of insurance premium tax (IPT). The consultation will consider:how to level the playing field and prevent the loss of IPT due to unregistered...

HMRC has added new paragraphs to its guidance Stamp duty and stamp duty reserve tax: transfer schemes of arrangement and restructuring plans to cover the restructuring plan, introduced into Part 26A of the Companies Act 2006 by the...

Panama has deposited its instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (multilateral instrument or MLI), bringing to 56 the number of jurisdictions...

On 9 November, the House of Lords voted to reject clauses in the Internal Market Bill addressing the Northern Ireland Protocol which would effectively allow the government to give ministers power to determine customs regulations on a unilateral basis...

An updated version of the HMRC charter was published on 5 November, alongside a summary of responses to HMRCs consultation. The charter sets out the standard of behaviour that individuals and businesses should expect when interacting with...