Alongside a general roundup of recent tax developments, HMRC’s Agent Update 115 covers the following points of particular interest:
HMRC prioritising support for self-assessment: until 31 January 2024, HMRC’s Agent Dedicated Line will only take calls about self-assessment filing, payments and repayments. Agents with queries on other topics ‘will need to use other channels’, say HMRC.
Potential to pause settlement of off-payroll working compliance checks: from 6 April 2024, it will be possible to set off taxes already paid by a worker or intermediary against a deemed employer PAYE liability, in situations where the off-payroll working rules have not been applied correctly. This power is included in clause 17 of Finance Bill 2024 (as originally published). As a result, HMRC says that organisations may be able to pause the settlement of open off-payroll working compliance checks until after 6 April 2024.
Capital gains tax on UK property returns: HMRC have confirmed that the paper return will now remain available to download on gov.uk. The ATT has updated its helpful guide on how to use HMRC’s CGT on UK Property Service, with a revised section on using paper forms.
Reporting rules for digital platforms: HMRC remind digital platforms and their advisers of the requirements from 1 January 2024 to report information about sellers using their platforms to HMRC, with the first reports due by 31 January 2025.
Creative industry tax relief reforms: the new expenditure credits for audio-visual and video games expenditure became available on 1 January 2024.
Corporation tax penalty appeals: HMRC have introduced a new interactive guidance form for penalty appeals.
Alongside a general roundup of recent tax developments, HMRC’s Agent Update 115 covers the following points of particular interest:
HMRC prioritising support for self-assessment: until 31 January 2024, HMRC’s Agent Dedicated Line will only take calls about self-assessment filing, payments and repayments. Agents with queries on other topics ‘will need to use other channels’, say HMRC.
Potential to pause settlement of off-payroll working compliance checks: from 6 April 2024, it will be possible to set off taxes already paid by a worker or intermediary against a deemed employer PAYE liability, in situations where the off-payroll working rules have not been applied correctly. This power is included in clause 17 of Finance Bill 2024 (as originally published). As a result, HMRC says that organisations may be able to pause the settlement of open off-payroll working compliance checks until after 6 April 2024.
Capital gains tax on UK property returns: HMRC have confirmed that the paper return will now remain available to download on gov.uk. The ATT has updated its helpful guide on how to use HMRC’s CGT on UK Property Service, with a revised section on using paper forms.
Reporting rules for digital platforms: HMRC remind digital platforms and their advisers of the requirements from 1 January 2024 to report information about sellers using their platforms to HMRC, with the first reports due by 31 January 2025.
Creative industry tax relief reforms: the new expenditure credits for audio-visual and video games expenditure became available on 1 January 2024.
Corporation tax penalty appeals: HMRC have introduced a new interactive guidance form for penalty appeals.
