NEWS

Over 16,700 individuals disclosed tax evasion or tax avoidance to HMRC in 2022/23, up from 13,820 disclosures in the previous tax year, according to HMRC data seen by Accountancy Group UHY Hacker Young.While some of this increase could be explained...

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

A recent YouGov online poll commissioned by Kingsley Napley shows that a majority of the British public (64%) favour raising the £325,000 IHT threshold and that there continues to be strong opposition (69% of the public) to increasing the current 40%...

Prime Minister Sir Keir Starmer and Education Secretary Bridget Phillipson have confirmed the government’s intention to replace the existing apprenticeship levy with a new growth and skills levy, which will include new foundation apprenticeships. The...

Various media outlets have been reporting a potential rethink of the non-dom proposals ahead of the new Governments first Budget on 30 October 2024, with the Financial Times quoting a government official suggesting that, while...

The Scottish government is consulting on the introduction of a new building safety levy in Scotland an additional charge on new residential property development to be paid by housebuilders. Revenue raised by the levy would provide a further...

HMRC have announced that regulations are to be issued which will allow certain fractional shares to be held in an Individual Savings Account. HMRC’s Tax-free Savings Newsletter 13 (September 2024) confirms that regulations are expected ‘in coming...

Form VAT126, which is used by organisations not registered for VAT to claim refunds, has been updated so it can now be completed digitally for first claims.Consequently VAT Notice 998 (VAT Refund Scheme for museums and galleries) and VAT Notice...

The UK government has halted changes to the interpretation of assimilated case law that otherwise were to have taken effect from 1 October 2024. The Retained EU Law (Revocation and Reform) Act 2023 (Commencement No 2 and Saving Provisions)...

HMRC have published the findings of research they commissioned into a proposal to allow individual taxpayers to control or restrict the tasks an agent can conduct on their behalf. HMRC’s ‘granular authorisations’ research involved surveying around 40...