NEWS

HMRC have published guidance on Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) covering how to catch up with digital records and submit quarterly updates during the tax year.HMRC remind those who have signed up to the testing phase...

HMRC are attempting to make clear that, although new reporting requirements apply for online platform operators from January 2025, the tax position for individuals who sell items (or services) on those platforms remains unchanged. This appears to...

The European Commission has closed three state aid investigations into transfer pricing tax rulings granted by Luxembourg to Fiat and Amazon, and by the Netherlands to Starbucks.The Commission has adopted final decisions, closing its investigations...

The OECD has published the following new reports on tax transparency and the automatic exchange of information, summarising the work of the Global Forum in recent years:15 Years: Promoting Transparency and Cooperation – a new report on 15 years of...

Finance Bill 2025 received its Second Reading in the House of Commons on 27 November (meaning it passes to the Committee stages).A Committee of the Whole House (i.e. the House of Commons) will debate the following provisions on 10 and 11 December...

The CIOT has written to the Treasury Committee, outlining thoughts and concerns on key tax measures announced at Autumn Budget 2024. The following points may be of particular interest for practitioners:NICs: the increase in employer contributions...

HMRC’s Employment Related Securities Bulletin 58 outlines the proposed new PISCES trading platform, and includes several reminders of recent and forthcoming changes that will impact on employment-related securities:Private Intermittent Securities and...

HMRC’s Stakeholder Digest (29 November 2024) provides a number of reminders:voluntary NICs deadline, for making up contribution record gaps from 6 April 2006, is 5 April 2025. After that, the usual rules will apply allowing retrospective...

HMRC now expect a 40-working-day turnaround time for applications for an agent services account, or corporation tax or self-assessment agent codes. Previously, applications were expected to take 28 working days....

HMRC have updated the following guidance:Moving goods between Great Britain and the UK Continental Shelf: the form to report UK Continental Shelf imports and exports has now been added. The new form was introduced on 28 November 2024 to simplify the...