NEWS

The EU Economic and Financial Affairs Council (ECOFIN) of the EU has adopted all three pillars of the proposed changes to the EU VAT rules as part of the VAT in the digital age (ViDA) initiative, following agreement of all 27 Member States. The ViDA...

HMRC have issued new guidance setting out how businesses should submit their VAT returns if they are exempt from using compatible software for Making Tax Digital for VAT. The method of submission will depend on the reason for exemption from MTD for...

The EC has published a proposal to revise DAC9 to implement the OECD Global anti-Base Erosion (GloBE) Information Return, enabling central filing via a top-up tax information return as provided for under the Minimum Tax Directive. The amendments...

HMRC have revised their guidance for tax repayment agents, to confirm that from 6 April 2025, the agent will need to use an advanced electronic signature process to obtain the appropriate authorisation from clients. The guidance sets specific...

Platform Operators (Due Diligence and Reporting Requirements) (Amendment) Regulations, SI 2024/1082, amend SI 2023/817, reg 4, so that the reporting exemption in paragraph (5) does not apply where the condition in paragraph (5)(a)(ii) is met but the...

The latest HMRC Pension scheme newsletter 164 summarises the following announcements made in the autumn budget:unused pension funds and death benefits payable from a pension will form part of a person’s estate for IHT purposes from 6 April 2027 and...

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

Chancellor Rachel Reeves delivered her first Budget on 30 October 2024. Together with the headline increase in employer NICs, the Chancellor’s changes to CGT rates and reform of IHT reliefs are expected to impact on businesses, with carried interest...

HMRC have drawn attention to an avoidance scheme which purports to use limited liability partnerships to disguise employment income. Spotlight 66 Limited Liability Partnerships arrangements used to disguise employment income highlights a tax...

HMRC have issued new basic guidance to help taxpayers check whether they need to declare property income. The guidance links to a new interactive tool which can be used to check the position in various common rental scenarios, and also covers income...