NEWS

The Land and Buildings Transaction Tax (Miscellaneous Amendments) (Scotland) Order, SSI 2024/104, makes various amendments to the Land and Buildings Transaction Tax (Scotland) Act 2013 – particularly to reflect the outcome of the Scottish...

The National Insurance Contributions (Reduction in Rates) Act 2024 received royal assent on 20 March 2024.Originally introduced to Parliament on 7 March 2024 (the day after Spring Budget 2024) as the National Insurance Contributions (Reduction in...

The Income Tax (Indexation of Qualifying Care Relief Amounts) Order, SI 2024/423, sets out the following amounts of relief from 2024/25 onwards:fixed amount: £19,360 (up from £18,140);weekly amount for an adult: £485 (up from £450);weekly amount for...

The Finance Act 2004 (Registered Pension Schemes and Annual Allowance Charge) Order, SI 2024/357, enables pensionable service in specified legacy (closed) and connected reformed (open) public service pension schemes to be combined for the purposes of...

The Low Incomes Tax Reform Group is encouraging employees to review their tax code for 2024/25 to make sure any adjustments to their personal allowance in 2023/24 are coded out correctly. The issue arises for employees paid on a non-monthly basis who...

HMRC is consulting on draft regulations which will update the VAT (Refund of Tax to Museums and Galleries) Order, SI 2001/2879. The 2021 Order allows eligible institutions to recover VAT (under VATA 1994 s 33A) attributable to the provision of free...

The New Zealand government has passed legislation – The Taxation (Annual Rates for 2023-24, Multinational Tax, and Remedial Matters) Act – implementing the OECD’s Pillar Two rules. As EY observes: ‘The Income Inclusion Rule (IIR) and Under Taxed...

The Finance (No. 2) Act 2017, Sections 60 and 61 and Schedule 14 (Digital Reporting and Record-Keeping) (Appointed Day) (Amendment) Regulations, SI 2024/422, delay the coming into force of the digital record-keeping and reporting requirements...

The Finance Act 2021 (Income Tax and Capital Gains Tax) (Penalties) (Appointed Day: Eligible Volunteers) Regulations, SI 2024/440, bring new penalty provisions into force for income tax and capital gains tax, for failures by ‘eligible volunteers’ to...

HMRC’s March update rounds up recent legislative changes and other announcements, most of which have effect from April 2024, including:a reminder that the consultation on proposed regulation of the tax advice market is open until 29 May 2024;an...