Key points to note from HMRC’s latest Agent Update include the following:
How to reduce self-assessment repayment delays: tips include not submitting voluntary returns, but instead registering the client for self-assessment and waiting for the notice to file.
End of CGT on UK property paper return trial: the trial of the downloadable CGT on UK property return will end after 30 September 2023. HMRC says it will ‘communicate the outcome of the trial in a future agent update’.
Disposals of excluded indexed securities: tax returns for 2022/23 onwards will include a new box which taxpayers can use to declare gains on excluded indexed securities. Where the necessary information is not available from financial institutions before the filing deadline, HMRC says that disclosure should be made under ‘any other information’.
New agent toolkit: HMRC intends to publish a new toolkit in October 2023 to help agents ensure that non-domiciled clients report taxable remittances on their tax returns.
Determining UK establishment (online marketplace traders): HMRC is trying to clarify the status of overseas businesses which sell via online marketplaces in the UK. Online marketplaces must collect VAT on sales made by non-established taxable persons (NETP) on their platforms. HMRC is concerned that some businesses are using UK addresses to avoid being treated as NETPs, and that VAT is not being collected by the platform or being declared by the businesses themselves.
Dedicated probate line closing: from 2 October 2023 HMRC will no longer offer a dedicated probate phone line. Probate queries should be addressed to HMCTS and IHT queries to HMRC.
Changes to agent dedicated line (ADL): from 2 October 2023, the 10-minute service level will be dropped, information on call waiting times will introduced and PAYE queries will be dealt with separately. HMRC is considering introducing a webchat facility. Considering the CIOT’s recent service level survey results these changes may prove unpopular.
Key points to note from HMRC’s latest Agent Update include the following:
How to reduce self-assessment repayment delays: tips include not submitting voluntary returns, but instead registering the client for self-assessment and waiting for the notice to file.
End of CGT on UK property paper return trial: the trial of the downloadable CGT on UK property return will end after 30 September 2023. HMRC says it will ‘communicate the outcome of the trial in a future agent update’.
Disposals of excluded indexed securities: tax returns for 2022/23 onwards will include a new box which taxpayers can use to declare gains on excluded indexed securities. Where the necessary information is not available from financial institutions before the filing deadline, HMRC says that disclosure should be made under ‘any other information’.
New agent toolkit: HMRC intends to publish a new toolkit in October 2023 to help agents ensure that non-domiciled clients report taxable remittances on their tax returns.
Determining UK establishment (online marketplace traders): HMRC is trying to clarify the status of overseas businesses which sell via online marketplaces in the UK. Online marketplaces must collect VAT on sales made by non-established taxable persons (NETP) on their platforms. HMRC is concerned that some businesses are using UK addresses to avoid being treated as NETPs, and that VAT is not being collected by the platform or being declared by the businesses themselves.
Dedicated probate line closing: from 2 October 2023 HMRC will no longer offer a dedicated probate phone line. Probate queries should be addressed to HMCTS and IHT queries to HMRC.
Changes to agent dedicated line (ADL): from 2 October 2023, the 10-minute service level will be dropped, information on call waiting times will introduced and PAYE queries will be dealt with separately. HMRC is considering introducing a webchat facility. Considering the CIOT’s recent service level survey results these changes may prove unpopular.
