NEWS

HMRC has added a note to RDR4 overseas workday relief to cover coronavirus travel restrictions which result in individuals performing employment duties in the UK which would normally have been carried out overseas. The note confirms that, where...

The UN Tax Committee has published a report on issues of particular relevance to developing countries relating to taxation of the digital economy, including a proposed new article for the UN Model Tax Convention. The report presents a draft for a...

The OECD has published a report Taxing virtual currencies: an overview of tax treatments and emerging tax policy issues providing analysis of the tax implications for a number of emerging issues, including the growing interest in stablecoins and...

HMRC has provided an update on its corporate criminal offence investigations:As at 13 October 2020, HMRC currently has 13 live CCO investigations. Since 31 July 2020, 3 new investigations have been opened. No charging decisions have yet been made.A...

667 large businesses have been forced to defer tax payments worth over 750,000 during lockdown, say accountants and business advisors, Moore, with 100 large businesses agreeing time to pay arrangements with HMRC in June alone. Chris Tate,...

Responding to the House of Commons Treasury Committees inquiry into the future of the tax system after coronavirus, the CIOT makes a number of observations with emphasis on the importance of full and open consultation. In a separate response,...

Two thirds of Chief Financial Officers do not expect demand for their own businesses to recover to pre-pandemic levels until after Q2 2021, according to Deloittes latest survey of CFOs which closed on 6 October. The report ranks the effects of...

HMRC has published correspondence from Jim Harra, Permanent Secretary and Chief Executive of HMRC, to Meg Hillier MP, Chair of the Public Accounts Committee, responding to criticisms in the Committees report Tackling the tax gap.In his letter,...

The CIOT has welcomed a call by the Public Accounts Committee for HMRC to assess whether the administrative burden that making tax digital (MTD) is imposing on businesses is reasonable and affordable before proceeding with further rollout. The...

HMRC has issued a reminded that, from March 2020, the department has been able to recover unpaid tax by adjusting the PAYE tax code for the current year. Although this change was announced in Agent update 76 in February 2020, this may have slipped...