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...
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...
The CIOT reports that HMRC is writing to those suspected of having undisclosed additional tax liabilities, with the letters copied to agents where it is aware the appropriate authorisation is in place. The letters (copies of which are linked to from...
The Investment Allowance and Cluster Area Allowance (Investment Expenditure) (Amendment) Regulations, SI 2024/395, amend the principal 2017 regulations (SI 2017/292) . The 2017 regulations extended the definition of investment expenditure which...
The Tax Credits (Income Thresholds and Determination of Rates) (Amendment) Regulations, SI 2024/510, correct the income threshold for working tax credit to £7,955 rather than £7,995 as had inadvertently been set out in the original 2024 threshold...
The Treasury’s consultation on improving the effectiveness of the UK’s anti-money laundering rules (SI 2017/692) runs until 9 June 2024. In the meantime, the Treasury has added details of several virtual events to its main consultation web page,...
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...
HMRC Brief 5/2024 confirms that businesses can choose to apply the Tour Operator’s Margin Scheme (TOMS) to business-to-business wholesale supplies and that, by concession, tour operators can opt B2B wholesale supplies out of TOMS.HMRC says that this...
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