NEWS

As reported last week, regulations are required to address a potential gap in the legislation which introduced late-payment penalties under the harmonised penalty regime for Making Tax Digital. With the relevant empowering provisions now in force...

The Energy (Oil and Gas) Profits Levy (Energy Security Investment Mechanism) Regulations, SI 2024/1175, set out how the average price of oil and gas over a reference period will be calculated for the purposes of the energy security investment...

The ATT highlights HMRC’s Autumn Budget 2024 consultation on Simplifying the Taxation of Offshore Interest. The consultation considers the challenges of offshore interest being reported to both taxpayers and HMRC on a calendar-year basis, and the...

The Pensions (Abolition of Lifetime Allowance Charge etc) (No 3) Regulations, SI 2024/1167, make further changes to the substantive pensions legislation (mainly FA 2004 Sch 29 and 36) in consequence of the abolition of the lifetime allowance. The...

In an important addition to their guidance on the VAT treatment of payments linked to private school fees, HMRC have provided new notes and examples covering situations where pupils receive therapy services in addition to education. The new section...

HMRC have added the UK-Romania double taxation agreement, as signed on 13 November 2024, to their collection of tax treaties. This new agreement has not yet been brought into force, but will eventually replace the previous 1975 agreement between the...

Second reading of the Bill has been scheduled for 27 November 2024....

The All-Party Parliamentary Loan Charge & Taxpayer Fairness Group (APPG) has called for the establishment of an independent taxpayer advocate service (TAS) in the UK, similar to the model established in the US and as discussed with HMRC in a meeting...

New data obtained by the Contentious Tax Group shows increasing rates of success for challenges to HMRC decisions using the HMRC internal review process. Although the picture varies considerably across the five departments which make up HMRCs...

The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations, SI 2024/1158, extend the application of the transitional arrangements under Parts 2 and 3 of the Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations, SI 2019/589, by a...