NEWS

As reported last month (Tax Journal, 29 November), the Upper Tribunal had rejected a taxpayer’s application for anonymity in a case involving failed tax avoidance arrangements (HMRC v The Taxpayer and others [2024] UKUT 364 (TCC)).An unredacted...

HMRC have updated their guidance on VAT late-payment penalties to include details of the penalties applicable for VAT payments that are overdue by 31 days or more (ie the second penalty). A new example illustrates the penalties for payments...

HMRC’s Pension Schemes Newsletter 165 highlights the following:Pension scheme returns: reminder that, from April 2025, pension scheme returns for 2024/25 onwards will need to be filed via the Managing Pension Schemes service. Pension payments to...

The value of tax debts collected overseas on behalf of HMRC increased by 11% in the 12 months to 31 December 2023 – rising to some £3.17m, according to recent figures. This is tax collected from individuals who owed tax to HMRC in the UK before...

Bowmore Wealth Group reports on the upper echelon of fiscal drag – 634,000 UK taxpayers who now find themselves paying an effective 60% rate of income tax on earnings between £100,000 and £125,140, given the effect of the withdrawal of the income tax...

Excise Duties (Miscellaneous Amendments and Revocations) Regulations, SI 2024/1262: include changes to customs warehousing (including removing the 72-hour rule restrictions), the rules on returning goods to an export shop, and customs supervised...

Upload documents and get messages for the Customs Declaration Service: updated to note that clearance for arrived goods can take longer if supporting documents are invalid or rejected, or need to be validated by another government...

Tax Journal thanks its authors for November (click on links below to view author profiles and access their contributions):Jo Bateson - Reflections on a career in taxAdam Craggs and Liam McKay - Alternative dispute resolution and mediationJo...

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.  

The Exchequer Secretary to the Treasury, James Murray MP, said he decided to commit to the timeframe for Making Tax Digital for Income Tax Self-Assessment following robust conversations with HMRC in the summer. He also said he took on...