NEWS

The ATT has identified a potential problem with the processing of voluntary payments of class 2 NICs for the tax year 2022/23 for individuals with profits below the small profits threshold (£6,725) who opted to make contributions to preserve...

HMRC have launched a new online service allowing taxpayers to check and fill any gaps in their NICs record. The new tool takes the existing state pension forecast checking service one step further, bringing together data around gaps in an...

The Major Sporting Events (Income Tax Exemption) (2024 UEFA Champions League Final) Regulations, SI 2024/546, provide an exemption from UK income tax for certain non-resident individuals who have been accredited by UEFA in respect of their...

The UK and Scottish governments have published a joint response to their January 2024 consultation that confirms that they will proceed to devolving taxation powers to enable a building safety levy to be introduced in Scotland to help fund the repair...

The OECD/G20 Inclusive Framework on BEPS has released the Consolidated Commentary to the Pillar Two Global Anti-Base Erosion (GloBE) Model Rules which replaces the original Commentary from March 2022. This now incorporates the three Agreed...

The International Tax Compliance (Amendment) Regulations, SI 2024/544, update the principal regulations on the exchange of financial account information (the International Tax Compliance Regulations, SI 2015/878), so that those regulations apply to...

The Committee of the whole House is scheduled to consider selected clauses of the Spring Finance Bill on income tax and CT rates and the energy profits levy security investment mechanism on 8 May, with the remaining clauses to be considered by a...

HMRC have published a summary of its accounting officer’s assessment of the Making Tax Digital programme, finding that MTD represents value for money and is deliverable. The accounting officer was Jim Harra, Chief Executive of HMRC.The report sets...

HMRC have recently updated their guidance note on penalties that apply during the voluntary sign-up phase for MTD for Income Tax Self-Assessment. The change (in the ‘summary of impacts’ section) adds the following note: ‘Where a ‘Time To Pay’...

HMRC have updated its basic guidance on agent authorisations to confirm that an authorisation can now be removed online via the personal tax account. The guidance also notes that, where an agent is being removed for self-assessment, the corresponding...