NEWS

HMRC are to update their interest rates for late payments and overpayments of most taxes, following the recent Bank of England decision to reduce the base rate to 4.75%. Based on the existing method for calculating the HMRC rates (as provided by SI...

HMRC have published a new paper setting out areas of particular interest in terms of future research which would underpin work to address ministerial strategic priorities for the Department. In other words, evidence to support initiatives to improve...

The NFUs president, Tom Bradshaw, has demanded that the new IHT APR rules be withdrawn and put to consultation, with the agricultural industry and Defra experts rejecting Treasury claims that 72% of farms will not be paying IHT under the new...

HMRC have published the following new RD guidance notes:Work out your Research and Development tax relief: including calculating the payable expenditure credit for the relevant tax year; Check what Research and...

The EU Economic and Financial Affairs Council (ECOFIN) of the EU has adopted all three pillars of the proposed changes to the EU VAT rules as part of the VAT in the digital age (ViDA) initiative, following agreement of all 27 Member States. The ViDA...

HMRC have issued new guidance setting out how businesses should submit their VAT returns if they are exempt from using compatible software for Making Tax Digital for VAT. The method of submission will depend on the reason for exemption from MTD for...

The EC has published a proposal to revise DAC9 to implement the OECD Global anti-Base Erosion (GloBE) Information Return, enabling central filing via a top-up tax information return as provided for under the Minimum Tax Directive. The amendments...

HMRC have revised their guidance for tax repayment agents, to confirm that from 6 April 2025, the agent will need to use an advanced electronic signature process to obtain the appropriate authorisation from clients. The guidance sets specific...

Platform Operators (Due Diligence and Reporting Requirements) (Amendment) Regulations, SI 2024/1082, amend SI 2023/817, reg 4, so that the reporting exemption in paragraph (5) does not apply where the condition in paragraph (5)(a)(ii) is met but the...