NEWS

HMRC have updated para 2.3.5 of the Insolvency VAT Notice 700/56 on members’ voluntary liquidation, to cover the use of notices of intended dividends (NOIDs) (i.e. distributions of funds to creditors). The update reflects HMRC’s recent guidance in...

HMRC’s Pension Schemes Newsletter 173 leads with the tax treatment of tax-free lump sums which are paid back into a registered pension scheme. The newsletter emphasises that, where a lump sum is returned to the scheme, any tax consequences associated...

Responding to the draft Finance Bill legislation which will bring unused pension funds into the scope of IHT from 6 April 2027, the CIOT outlines concerns that, under the current proposals, the personal representatives (PRs) will be liable for IHT on...

HMRC have introduced a new service enabling taxpayers to pay the high income child benefit charge (HICBC) via PAYE without completing a self-assessment return. HMRC’s online service can be used only if the taxpayer does not need to file a...

HMRC have brought together existing guidance on tax arrangements for long-term UK residents, qualifying new UK residents and their employers and representatives, which can now be accessed via a centralised landing page. HMRC note that guidance will...

HMRC have issued new guidance explaining how to report poor service standards in R&D tax relief claims. This is all about agents reporting other agents, rather than agents reporting sub-par HMRC levels of service in relation to R&D claims. The...

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

In a recent update to their briefing paper on the direct recovery of tax debt powers, HMRC have confirmed that they are re-starting the use of the direct recovery provisions, saying: ‘HMRC paused the use of DRD during the Covid-19 pandemic and has...

The ICAEW Tax Faculty has cautioned that the proposed mandatory registration of tax advisers, together with the introduction of extra HMRC powers targeting agents who facilitate non-compliance and promoters of tax avoidance, could risk undermining...

HMRC have released updated guidance in the National Insurance Manual (NIM33650 onwards) covering earnings for internationally mobile employees (IMEs), with a summary also appearing in the most recent Agent Update. The new guidance makes clear that...