HMRC has published two useful Stakeholder Digests recently.
The 6 July 2022 edition covers the ‘L-Day’ announcement that draft Finance Bill 2023 legislation is to be published for consultation on 20 July, and also sets out various reminders for Making Tax Digital for VAT, and PAYE tax refunds via HMRC’s app.
Measuring Tax Gaps report – the tax gap remained at 5.1% for the tax year 2020–21, although in cash terms it fell from £39bn to £37bn (mainly due to the effects on the economy of the Covid-19 pandemic).
Move to the Customs Declaration Service to continue importing – a reminder that the last date for making import declarations using Customs Handling of Import and Export Freight (CHIEF) is 30 September 2022.
Repayment Agents consultation – HMRC seeks views on how it can protect and inform people who use specialist repayment agents to claim a tax refund.
Corporate Interest Restriction working group – HMRC is inviting companies to join the working group being set up to consider various technical issues with the CIR legislation.
The Digest also covers the following:
Reminder of the new NICs tool to estimate the impact of the primary threshold increase for employees.
Reminders of UK tax implications for those arriving from Ukraine, and customs easement for humanitarian aid sent to Ukraine.
HMRC has published two useful Stakeholder Digests recently.
The 6 July 2022 edition covers the ‘L-Day’ announcement that draft Finance Bill 2023 legislation is to be published for consultation on 20 July, and also sets out various reminders for Making Tax Digital for VAT, and PAYE tax refunds via HMRC’s app.
Measuring Tax Gaps report – the tax gap remained at 5.1% for the tax year 2020–21, although in cash terms it fell from £39bn to £37bn (mainly due to the effects on the economy of the Covid-19 pandemic).
Move to the Customs Declaration Service to continue importing – a reminder that the last date for making import declarations using Customs Handling of Import and Export Freight (CHIEF) is 30 September 2022.
Repayment Agents consultation – HMRC seeks views on how it can protect and inform people who use specialist repayment agents to claim a tax refund.
Corporate Interest Restriction working group – HMRC is inviting companies to join the working group being set up to consider various technical issues with the CIR legislation.
The Digest also covers the following:
Reminder of the new NICs tool to estimate the impact of the primary threshold increase for employees.
Reminders of UK tax implications for those arriving from Ukraine, and customs easement for humanitarian aid sent to Ukraine.
