NEWS

Six families supported by the Independent Schools Council (ISC) are challenging by way of judicial review the Labour Government’s decision to introduce VAT on private school fees. The focus of the judicial review is the potentially disproportionate...

New research reveals that 5,643 taxpayers used the HMRC Worldwide Disclosure Facility in 2024 to make voluntary disclosures of underpaid tax on overseas assets, representing a 22% increase over figures for the previous year. Advisory firm, Lubbock...

The Double Taxation Relief and International Tax Enforcement (Ecuador) Order, SI 2024/1365 gives effect to the 2024 UK-Ecuador double taxation agreement – the first DTA between the two countries. The Explanatory Memorandum to the Order summarises key...

The OECD has released a pricing tool and factsheets to facilitate the understanding and operation of the simplified and streamlined approach to transfer pricing.The factsheets provide a high-level overview of the mechanics of Amount B, including the...

The Inclusive Framework on BEPS has released the latest peer review assessment report for 136 jurisdictions on the spontaneous exchange of information on tax rulings (BEPS Action 5), suggesting an ongoing high level of compliance of Inclusive...

The Chancellor has asked the Office for Budget Responsibility (OBR) to produce an economic and fiscal forecast which will be published on 26 March 2025. This is in line with the Budget Responsibility and National Audit Act 2011 which requires the OBR...

The Public Bill Committee is expected to begin its scrutiny of Finance Bill 2025 on Tuesday 28 January 2025, according to a call for evidence issued on 20 December 2024. The Committee is scheduled to complete its work by Tuesday 4...

On 17 December 2024, the National Insurance Contributions (Secondary Class 1 Contributions) Bill was debated by a Committee of the whole House in the House of Commons. No amendments were made to the Bill (which remains as introduced) and it received...

The Courts and Tribunals Service has revised the Solicitors’ guideline hourly rates with effect from 1 January 2025. The rates are used to prepare schedules of standard costs for appeals in England and Wales. Although they are known as the...

Highlights from HMRC’s December 2024 Agent Update include:Clarification around company tax return requirements for quarterly instalment corporation tax payers, on the reintroduction of the associated companies rules (and marginal relief) from 1 April...