Changes to tax repayment claims process when agents become insolvent: HMRC have altered the process for handling repayment requests when an agent is insolvent. This means that rather than payments being received by the agent as nominee repayments will be made directly to the client. Initially this change will apply to repayments for marriage allowance income tax deducted from savings and investments (R40) and employment expenses (P87). HMRC intend to issue a further update when this is extended to other repayment scenarios.
Classification of double-cab pickups (DCPUs): new HMRC manual guidance has been issued (at EIM23151) on the treatment of DCPUs for car benefit capital allowances and business profit deductions purposes. From 6 April 2025 HMRC will no longer apply the payload test. Instead classification will be based on ‘primary suitability’ of...
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Changes to tax repayment claims process when agents become insolvent: HMRC have altered the process for handling repayment requests when an agent is insolvent. This means that rather than payments being received by the agent as nominee repayments will be made directly to the client. Initially this change will apply to repayments for marriage allowance income tax deducted from savings and investments (R40) and employment expenses (P87). HMRC intend to issue a further update when this is extended to other repayment scenarios.
Classification of double-cab pickups (DCPUs): new HMRC manual guidance has been issued (at EIM23151) on the treatment of DCPUs for car benefit capital allowances and business profit deductions purposes. From 6 April 2025 HMRC will no longer apply the payload test. Instead classification will be based on ‘primary suitability’ of...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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