NEWS

Register a trust as an agent: guidance for agents, updated to add further detail on what an agent or tax adviser needs to do to tell HMRC about changes to trust registration details.Lifetime ISA withdrawal charge reduced to...

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

The European Commission has issued a proposal for an EU post-Covid recovery fund which would allow the EU to borrow up to 750bn to invest in programmes to support economic recovery. Under its Recovery plan for Europe, the funds would be...

HMRC is consulting until 12 June 2020 on draft legislation on the taxation of coronavirus business support payments. The measures are expected to be added to Finance Bill 2020 during its passage through Parliament, potentially incorporating further...

HMRC has added notes to its main CJRS guidance to explain how the scheme is to evolve. From 1 July, employers will be able to bring previously furloughed employees back to work for any amount of time or shift pattern, while still being able to claim...

On 29 May, the Chancellor announced that the SEISS will be extended, with eligible individuals able to make a claim for a second and final grant in August 2020. The grant will be worth 70% of average monthly trading profits, paid out in a single...

The Statutory Sick Pay (General) (Coronavirus Amendment) (No. 4) Regulations, SI 2020/539, provide that individuals who have been notified that they have had contact with a person who has coronavirus, and that they should stay at home and...

The UK government has published details of the UKs most favoured nation tariff regime, the UK global tariff (UKGT), which the government intends will replace the EU common external tariff on 1 January 2021. The regime will apply where the UK...

HMRC has updated its guidance Changes to notifying an option to tax land and buildings during coronavirus (Covid-19) to reflect the temporary extension to the time limit to notify a decision to opt to tax to 90 days from the date the decision to opt...

HMRC issued further guidance on how to claim relief from customs duty and import VAT on the following goods:Museum and gallery exhibits covering goods permanently imported into the UK of a scientific, educational or cultural nature, despatched...