NEWS

UK and Ecuador government representatives signed a new double tax convention on 6 August 2024. This is the first double tax agreement between the two countries, and covers UK income tax, corporation tax and capital gains tax (and ‘identical or...

The government has tabled amendments to the Budget Responsibility Bill 2024-25 for consideration at the Bill's whole House of Commons Committee.The latest amendments to the Budget Responsibility Bill include:the Office for Budget Responsibility (OBR)...

The Privacy Notice updates include: ‘How we use your information’: HMRC routinely examine and obtain business records, which can contain personal data such as employee and customer data; ‘Artificial Intelligence, analytics and machine learning’: HMRC...

The General Anti-Abuse Rule (GAAR) Advisory Panel is recruiting a new Chair responsible for leading the work of the Panel. This is a paid role with a three-year term for normally around two days a month, depending on the number of cases under...

HMRC have clarified how it will assess qualifying income for a tax year for the purposes of entry into Making Tax Digital for Income Tax Self-Assessment.In its guidance note, Check if you'll need to sign up for Making Tax Digital for Income...

The number of estates that paid IHT on lifetime gifts has increased from 590 in 2011/12 to 1,300 in 2020/21, according to data obtained by Evelyn Partners in response to a freedom of information request, with the total paid more than doubling from...

HMRC have issued basic contact information, directing agents to its online services for various self-assessment or PAYE tasks and also the Agent Dedicated Line, asking agents not to use the helpline ‘to check progress or ask about tax and employment...

The August 2024 edition of HMRC’s Employer Bulletin includes the following highlights:default cash basis for unincorporated businesses: a reminder that the cash basis becomes the default method of accounting for 2024/25 (self-assessment tax returns...

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

Member states of the United Nations have approved the final draft terms of reference for a framework convention on international tax cooperation. 110 member states voted in favour, eight voted against and 44 abstained.The General Assembly will...