NEWS

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

Scottish Budget: Scottish Finance Secretary Shona Robison set out the following key tax announcements in the Scottish Budget on 4 December 2024:Scottish income tax: for 2025/26 the higher, advanced and top rate thresholds will be maintained at...

G Lineker and another t/a Gary Lineker Media v HMRC which had been appealed by HMRC to the Upper Tribunal and had been scheduled for 2 and 3 December has now been vacated. The FTT decision (reported in Tax Journal, 14 April 2023) held that IR35...

The Designation of Special Tax Sites (Anglesey Freeport) Regulations, SI 2024/1286, designate three special tax sites within the Anglesey Freeport with effect from 23 January 2025. The tax reliefs available in special tax sites in Wales include a 10%...

HMRC have published a new calculator to work out the overlap relief figure for 2023/24 for the self-employed or those in a partnership. HMRC note that the calculator cannot be used if more than two changes have been made to the accounting date....

The Land and Buildings Transaction Tax (additional amount: transactions relating to second homes etc) (Scotland) Amendment Order, SSI 2024/367, increases the rate of the land and buildings transaction tax additional dwelling supplement (ADS) to 8%...

The Scottish Rates of Income Tax (Consequential Amendments) Order, SI 2024/1289, allows deficiency relief to be calculated by reference to income taxable at the Scottish advanced rate of income tax. The point of the Order is to avoid disparities in...

HMRC have published a new online tool to help individuals and employment businesses estimate take-home pay and deductions where workers are paid by an umbrella company. The tool can be used to estimate gross and net pay for a single role based on NIC...

HMRC have updated their guidance on tips, gratuities, service charges and troncs to note that, although new legislation tightened up the law around the distribution of tips with effect from 1 October 2024 (with a view to making sure tips intended for...

As reported last month (Tax Journal, 29 November), the Upper Tribunal had rejected a taxpayer’s application for anonymity in a case involving failed tax avoidance arrangements (HMRC v The Taxpayer and others [2024] UKUT 364 (TCC)).An unredacted...