NEWS

HMRC’s Agent Update 123 for September 2024 covers a range of recent developments, including the following key points:reminder of the updated additional information required alongside R&D claims under the April 2024 regime, noting that the additional...

HMRCs latest newsletter confirms that regulations will be introduced as soon as parliamentary time allows to correct the pensions lifetime allowance abolition legislation (following the recent consultation with industry)....

Pinsent Masons reports that HMRCs serious criminal tax investigations brought in 991m in 2023/24, up from just 89m in the previous tax year. 653m of that total came from HMRCs case against Bernie Ecclestone but the...

HMRC have significantly increased their use of joint and several liability notices to recover tax debts from individual directors where the company has become, or is likely to become, insolvent. Pinsent Masons highlights a 225% increase, with...

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

The Chancellor has already confirmed that the Business Tax Roadmap is to be included in the 30 October 2024 Budget. Welcoming that commitment, the CIOT highlights points of key importance for business and the tax profession:The overwhelming feedback...

HMRCs new guidelines for compliance on transfer pricing (CfC7), published last week, suggests a more aggressive approach to tax enforcement, says LCN Legal, a firmspecialising in providing intercompany agreements for MNEs.Paul...

The Research and Development Relief (Information Requirements etc) Regulations, SI 2024/950, rewrite the requirements for information that must be submitted by companies in support of their RD claims, following introduction of the new RD...

HMRC have confirmed that savers will be able to hold fractional shares in ISAs. The Conservative government originally announced this change in the 2023 Autumn Statement, but it was put on hold as a result of the 2024 general election. After some...

In a proactive submission, the CIOT is seeking clarification of HMRCs position on whether non-cumulative shares with a fixed-rate dividend would still be regarded as ordinary share capital for the purposes of ITA 2007 s 989.HMRCs...