NEWS

Data acquired under the Freedom of Information Act by accountancy firm Price Bailey reveals that HMRC’s Fraud Investigation Service amended 2,100 R&D tax relief claims in 2022 and 2023 using its powers to correct corporate tax returns under FA 1998...

The CIOT has submitted a paper to HMRC outlining their concerns about HMRCs February 2024 updated guidance on the salaried members rules, and urging HMRC to reconsider their position.HMRCs revised guidance suggests that the targeted...

HMRC have revised their guidance on the requirement for large businesses to publish a tax strategy, to clarify that the turnover and balance sheet test for UK companies, and the multinational enterprise (MNE) turnover test, are mutually exclusive....

HMRC have redesigned and published their IHT100 suite of forms which are used to report chargeable lifetime transfers by individuals and transfers by trusts.Previously, a reportable transfer would require an IHT100 form and a separate ‘event’ form...

HMRC have made further changes to their Pillar Two guidance, with new sections on common reporting obligation misconceptions and the transitional safe harbour rules. How to prepare for MTT and DTT has been updated to include the...

The Italian government has announced that the ‘substitute tax’ on foreign income and gains of individuals who transfer their tax residence to Italy is to be doubled to €200,000. Similar to the position in the UK, individuals who are resident in Italy...

HMRC have updated its late-payment and repayment interest rates, following the Bank of England’s 1 August 2024 decision to cut the bank base rate to 5% (from 5.25%).For most taxes and payments, the late-payment interest rate will be 7.5% and the...

The Tribunal Procedure Committee has launched a consultation on potential amendments to the rules for each chamber of the First-tier Tribunal and the employment tribunals regarding the issuing of a full decision. The most significant proposal would...

HMRC have published new guidance on the reporting rules for operators of online platforms, covering the following:what qualifies as a digital platform;which platform operators fall within the reporting requirements;categories of sellers which should...

The ATT suggests that the new requirement for employers to report detailed employee working hours data to HMRC may now not begin until April 2026 at the earliest, rather than from April 2025 as originally intended. The ATT says that, because of the...