NEWS

Shadow Chancellor, Rachel Reeves, has pledged that, should Labour form the next government, it will crack down on tax dodgers to reduce the tax gap and direct the resulting extra 5bn a year in public funds to the NHS and schools....

HMRC have issued new Directions for the electronic delivery of additional information and amendments to corporation tax returns, both in relation to claims for the creative industry tax reliefs. The Directions specify the following:additional...

HMRC have updated the 2024/25 version of its CWG2 employer guide to PAYE and NICs to note the following:tax-free lump sums over £30,000 paid to employees who cannot work due to disability, injury or ill health no longer need to be reported to HMRC...

The Welsh Government is consulting until 19 May 2024 on proposals to abolish land transaction tax multiple dwellings relief (MDR) in Wales, following the equivalent change in England with the removal of SDLT MDR from 1 June 2024.The change would have...

The FT reports that the current UK Culture Secretary (Lucy Frazer) is lobbying the Treasury to change the gift aid rules to encourage charitable giving in the UK. According to the report, proposals could include streamlining the gift aid process, so...

HMRC have published the following new guidance which explains in straightforward terms how the individual lump sum allowance and lump sum death benefit allowance work from 6 April 2024, following abolition of the lifetime allowance:Find out the rules...

HMRC have issued new guidance to accompany recent regulations (SI 2024/440) which gave effect to the new late-filing and late-payment penalties regime in relation to those who sign up to Making tax Digital for Income Tax Self-Assessment (MTD for...

HMRCs 3 April 2024 Stakeholder Digest provides a number of helpful reminders for practitioners:the open consultation on proposed options for regulation of the tax advice market which runs to 29 May 2024, and separate further consultation on...

HMRC’s Pensions Schemes Newsletter 158 (April 2024) rounds up further recent guidance on abolition of the lifetime allowance, noting that ‘information to support you to implement the LTA abolition will continue to be included in regular pension...

In a letter to the Treasury Committee, Jim Harra, HMRC Chief Executive and First Permanent Secretary, has defended HMRC’s approach to the loan charge and disguised remuneration (DR) tax avoidance schemes more generally. In his conclusions, Harra put...