NEWS

Simply raising the rates of CGT is not the right route to take to raise revenue for the Exchequer, says the Institute for Fiscal Studies, as it publishes a new research report co-authored with SenTax. Among the key findings identified...

HMRC have issued a new set of Directions which, with effect from 2 October 2024, set out approved methods for the electronic communication and authentication of various details for the following, all of which relate to R&D claims:R&D claim...

The Treasury has issued a draft version of the further set of regulations which will adjust the pensions lifetime allowance abolition legislation. HMRC’s Explanatory Memorandum to the draft regulations explains much of the detail, confirming that the...

From 14 October 2024, HMRC will require claims for PAYE employment expenses to be made using Form P87, and for supporting evidence to be provided to prove eligibility. This is in response to risk identified earlier in 2024 around whether claimants...

The direct payment scheme which allows personal representatives (PRs) to pay IHT from the deceased’s funds has been extended to investment providers.For many years HMRC have operated a direct payment scheme which allows PRs to instruct banks,...

HMRC have updated various customs guidance notes to reflect extension of the waiver of import requirements for goods from the EU (and other territories that did not have requirements before 1 January 2021) until 31 January 2025. Originally, the...

The Aggregates Tax and Devolved Taxes Administration (Scotland) Bill has been approved by the Scottish Parliament and will become law when it receives royal assent. Scottish aggregates tax will replace aggregates levy in Scotland, becoming the third...

HMRC have published the ‘synthesised’ version of the UK/Luxembourg Double Taxation Convention. This is a version of the 1967 treaty, incorporating relevant Multilateral Instrument changes....

The Inclusive Framework on BEPS has published a new Model Competent Authority Agreement which aims to help jurisdictions with limited resources implement Amount B of Pillar One. In its press release, the OECD reiterates that further work on the...

From 7 October 2024, HMRC are making the following changes to its Agent Dedicated Line (ADL), reports the CIOT:advisers will help with both self-assessment and PAYE queries, following agent feedback that a combined resource would be more efficient in...