The amount of R&D tax relief claimed by businesses through the patent box scheme jumped 25% in 2016/17, reaching £942.5m, increasing from £754.3m in 2016, according to accountancy firm Moore Stephens.
HMRC has published for consultation until 22 February 2019 a draft version of a new Life Assurance Manual, covering the corporation tax regime for life assurance and other long-term insurance business which came into effect in January 2013.
HMRC has issued a call for evidence until 20 March 2019 on how electronic till systems are being misused to facilitate tax evasion by hiding or reducing the value of individual transactions (electronic sales suppression).
HMRC has published guidance for individuals on potential liability to income tax, NICs and CGT that may arise on receipt or disposal of cryptoassets (see bit.ly/2QH26YE).
HMRC will shortly begin sending letters to those businesses it has identified as falling within the group permitted to defer compliance with making tax digital (MTD) until October 2019.
HMRC has published its fourth annual report on the operation of the code of practice on taxation for banks, covering the period from 1 April 2017 to 31 March 2018.
The report states that the code continues to support improved behaviour across the banking sector. Findings include:
HMRC has published an ‘issue briefing’ reporting progress on consolidation of its offices into 13 regional centres and five specialist offices, first announced in 2015.
HMRC has published the following:
The Welsh government presented its final 2019/20 Budget to the Welsh Assembly on 18 December.