NEWS

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...

HMRCs Stakeholder Digest (26 September 2024) includes the following highlights:confirmation that HMRC are to consult on electronic invoicing and publish a digital transformation roadmap to outline HMRCs vision to become a...

HMRC have issued new guidance on how to cancel an economic crime (anti-money laundering) levy registration where there is no longer liability to the levy – for example, where the business no longer carries on regulated activities or where it falls...

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

In her first speech to the Labour Party conference as Chancellor, Rachel Reeves pledged no return to austerity. The Autumn Budget will be a Budget with real ambition which keeps our manifesto commitments....

HMRC have issued the following new guidance notes covering registration for corporation tax in various scenarios:Register for corporation tax through a dependent agent permanent establishment: guidance for non-UK resident companies trading in the UK...

Revenues from the energy profits levy (EPL) continue on a downward trend, according to recent data from the Office for National Statistics. EPL receipts were £2.6bn in the financial year to 31 March 2023 (HMRC statistics), but RSM reports that...