NEWS

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...

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

The CIOT has responded to the draft legislation published at Autumn Budget 2024 which, when enacted, will make changes to the tax regime for employee-ownership trusts (EOTs) with effect from 30 October 2024. The EOTs provisions are set out in Sch 6...

The Land Transaction Tax (Relief for Special Tax Sites) (Wales) Regulations, SI 2024/1193, provide for relief from the Welsh land transaction tax for qualifying transactions of land in designated special tax sites in Wales – broadly mirroring the...

HMRC have issued the latest quarterly update to the company car advisory fuel rates, for journeys on and after 1 December 2024. Rates for all petrol and diesel car bands have been reduced by one penny. Employers may therefore decide to continue to...