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Agent Update: Issue 126

Highlights from HMRC’s December 2024 Agent Update include:

  • Clarification around company tax return requirements for quarterly instalment corporation tax payers on the reintroduction of the associated companies rules (and marginal relief) from 1 April 2023. The update covers how to report the number of 51% group companies for accounting periods which straddle the 1 April 2023 date.
  • In December 2024 HMRC anticipated that not all P800 tax calculation letters would be sent out before the end of the year. HMRC also said that although most end of year PAYE reconciliations would usually be completed by the end of November this time: ‘the process will be complete by the end of March 2025 and PAYE customers are asked not to chase until after that point. GOV.UK guidance is being updated to this effect.’
  • Reminder of the new safety and security declarations from 31 January 2025 for EU imports into...

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