NEWS

In its latest update for agents, HMRC have highlighted changes to the process for making repayment claims for income tax deducted from savings interest, the risks for employment agencies using umbrella companies, and encourages the early filing of...

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

A new report by the National Audit Office highlights both the extent of HMRC customer service failings and the scale of the challenge facing the tax authority. According to the report:HMRCs telephone customer service is not delivering: average...

HMRC have published new Guidelines for Compliance aimed at football agents and clubs, setting out their view on dual-representation contracts (where the agent purports to work for both the club and the player, and the fee paid by the club to the...

In correspondence with the CIOT, HMRC have confirmed that relief is available under ITEPA 2003 s 299B (voluntary office-holders: payments in respect of expenses) for reasonable expenses incurred by voluntary office holders in relation to commuting to...

The Council of the EU has reached an agreement (general approach) on safer and faster procedures to obtain double taxation relief, which will help boost cross-border investment and help fight tax abuse.The so-called FASTER initiative aims to make...

HMRC have published Revenue & Customs Brief 7/2024 on a change to the VAT treatment of voluntary carbon credits from 1 September 2024. From that date, VAT will need to be accounted for at the standard rate on certain transactions involving voluntary...

HMRC received 9.5m disclosures from overseas tax authorities under the Common Reporting Standard (CRS) in the 12 months to 31 December 2022, according to figures obtained by Pinsent Masons, up from 6.4m in 2019 (an increase of almost 50%).The firm...

HMRC are consulting on draft regulations which will update the new late payment penalty rules, to enable HMRC to assess the second of the two late payment penalties before the tax due has been paid in full. The draft Penalties for Failure to Pay Tax...

In a detailed response to HMRC’s consultation: The Tax Administration Framework Review: enquiry and assessment powers, penalties, safeguards, the CIOT puts forward a number of points, concluding that the alignment of powers, penalties and safeguards...