NEWS

Recent developments in tax.

The CIOT has published its response to the HM Treasury call for evidence on VAT and the sharing economy which was open until 3 March 2021. The main points of the CIOT response include:a recommendation that a working group be set up to include...

HMRC has updated its brief on the VAT treatment of supplies of digital newspapers and other digital publications prior to 1 May 2020. It replaces Revenue and Customs Brief 1/2020, following the Court of Appeal decision in News Corp UK and Ireland...

The CIOT has noted HMRC’s announcement that the trust registration service (TRS) will be extended to enable non-tax paying trusts to register in compliance with the money laundering regulations. According to HMRC, the current registration deadline of...

HMRC has updated its guidance detailing the rates and thresholds for employers operating a payroll or providing expenses and benefits to their employees to reflect 2021/22 rates. These rates and allowances apply from 6 April 2021 to 5 April 2022....

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 Updated: BIM40456 ...

In its response to HMRC’s consultation on making tax digital for corporation tax (which closed on 5 March 2021), the CIOT considers whether the proposed rules will achieve the principal policy intentions of reducing taxpayer error and promoting...

The Income Tax (Pay As You Earn) (Amendment) Regulations, SI 2021/218 amend the principal income tax PAYE regulations (SI 2003/2682) to implement new reporting requirements where an employer is correcting errors in their returns.HMRC is simplifying...

At Budget 2021, the government announced a review of the R&D tax reliefs to explore the nature of private-sector R&D investment in the UK, how that is supported and where changes may be appropriate. The consultation, which closes on 2 June 2021,...

The government announced at Budget 2020 that it would review the EMI scheme to ensure it provides support for high-growth companies to recruit and retain the best talent so they can scale up effectively, and examine whether more companies should be...

HMRC has published a new factsheet Budget 2021: Super-deduction setting out basic details for the enhanced capital allowances available to companies for expenditure on qualifying plant and machinery between 1 April 2021 and 31 March 2023.The Treasury...

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