NEWS

Dominic Chappell, who bought BHS for 1 in 2015 has been convicted of tax evasion. HMRCs criminal investigation found that Chappell had deliberately evaded VAT and corporation tax and had also failed to disclose dividend income....

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.Direct taxesManual Page Comments Company Taxation Manual Archived:...

As announced by the prime minister on 31 October, the coronavirus job retention scheme (CJRS) is to be extended to cover the next period of lockdown in England which is expected to run from 5 November until 2 December 2020.The CJRS will...

The Bank Levy (Loss Absorbing Instruments) Regulations, SI 2020/1188, set out various conditions for the treatment for the bank levy of loss absorbing instruments (such as shares and certain convertible debt) issued by overseas subsidiaries of UK...

The ATT has warned businesses which are considering the purchase of capital equipment to act quickly or risk missing out when the annual investment allowance reverts back to 200m from 1 January 2021.Although the timing of the purchase may make...

HMRC has updated its guidance Register a non-resident company for corporation tax to expand the section on what to include in the corporation tax return. To avoid the need for HMRC to contact companies for additional information in relation to a...

HMRC has updated its guidance Check if you can claim back statutory sick pay paid to employees due to coronavirus (covid-19) to clarify that, although employees do not need to provide their employer with a doctors fit note, the employer can...

The Chartered Institute of Taxation (CIOT) has responded to the HMRCs second tranche of the review of non-domestic rates in England. The CIOT states that businesses rates are being increasingly perceived as a tax, as opposed to a property...

HMRC is consulting on changes to the legislation on the taxation of UK property rich collective investment vehicles (CIVs) and their investors. The proposed changes aim to address instances where disproportionate burdens can arise for certain...

The Coronavirus Life Assurance Scheme (Northern Irish Scheme) (Excluded Benefits for Tax Purposes) Regulations, SI 2020/1198, exempt from the charge to tax on employer-financed benefits under ITEPA 2003 s 394, lump sum payments of 60,000 paid...