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Latest Trusts and Inheritance Tax News

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Weekly roundup of HMRC manual changes: 27 March 2023

27 March 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

27 Mar 2023 00:00 | Published by a Tolley Corporation Tax expert

HMRC updates interest rates following Bank of England decision

HMRC is increasing the late payment rate of interest to 6.75%, and the repayment interest rate to 3.25% from 13 April 2023. Interest on quarterly instalment payments of corporation tax is also increased from 3 April 2023.

27 Mar 2023 00:00 | Published by a Tolley Corporation Tax expert

Agent Update: issue 106

HMRC has published Agent Update issue 106 (22 March 2023) providing a round-up of recent developments and changes to legislation and allowances relating to UK tax for tax agents and advisers.

23 Mar 2023 00:00 | Published by a Tolley Corporation Tax expert

SI 2023/348 The International Organisations (Tax Exemptions Designation) Order 2023

This Order provides for limited exemptions from income tax, capital gains tax, inheritance tax, stamp duty and stamp duty reserve tax to be given in respect of securities issued by the Caribbean Development Bank, Asian Infrastructure Investment Bank, and Inter-American Investment Corporation, international organisations of which the United Kingdom is a member.

23 Mar 2023 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Updated HMRC guidance on rates and allowances: beneficial loan arrangements

HMRC has updated its guidance on rates of interest on beneficial loan arrangements.

20 Mar 2023 00:00 | Published by a Tolley Employment Tax expert

Spring Budget 2023: new investment allowances and relaxation of pension restrictions

The Chancellor’s Budget on 15 March 2023 included several new announcements, and brought together previously published proposals, many of which will be legislated in the Spring Finance Bill.

15 Mar 2023 00:00 | Published by a Tolley Corporation Tax expert

Updated HMRC guidance on money laundering supervision

HMRC has updated its guidance on helping to prevent money laundering and terrorist financing for a trust or company service provider.

14 Mar 2023 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 13 March 2023

13 March 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

13 Mar 2023 00:00 | Published by a Tolley Corporation Tax expert

HMRC publishes new guidance on Off-payroll working

HMRC has published multiple new guidance notes on Off-payroll working for intermediaries, contractors and clients.

07 Mar 2023 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 27 February 2023

27 February 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

27 Feb 2023 00:00 | Published by a Tolley Corporation Tax expert

Exemption for Postmaster compensation payments

Regulations have been laid to exempt certain compensation payments to Postmasters from tax.

24 Feb 2023 00:00 | Published by a Tolley Employment Tax expert

Weekly roundup of HMRC manual changes: 20 February 2023

20 February 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

20 Feb 2023 00:00 | Published by a Tolley Employment Tax expert

CIOT urges the Government to review “unfair†repayment interest rates

The CIOT urges the Government to review “unfair†repayment interest rates, with taxpayers facing late payment bills from HMRC up to 17 times higher than what is returned to those who have overpaid.

09 Feb 2023 18:30 | Published by a Tolley Corporation Tax expert

HMRC new Litigation and Settlement Strategy Manual

HMRC has published a new manual on its Litigation and Settlement Strategy.

09 Feb 2023 00:00 | Published by a Tolley Corporation Tax expert

SI 2023/113 The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations

These Regulations make modifications for the purposes of applying the correct tax treatment to public service pension schemes which are affected by the rectification of discrimination provisions contained in the Public Service Pensions and Judicial Offices Act 2022.

07 Feb 2023 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Weekly roundup of HMRC manual changes: 6 February 2023

6 February 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

06 Feb 2023 00:00 | Published by a Tolley Corporation Tax expert

HMRC late payment interest rates following Bank of England decision

HMRC is increasing the late payment rate of interest to 6.5%, and the repayment interest rate to 3% from 21 February 2023. Interest on quarterly instalment payments of corporation tax is also increased from 13 February 2023.

06 Feb 2023 00:00 | Published by a Tolley Corporation Tax expert

HMRC internal manual Alternative Dispute Resolution Guidance

HMRC has published a new manual on Alternative Dispute Resolution.

03 Feb 2023 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 30 January 2023

30 January 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

30 Jan 2023 00:00 | Published by a Tolley Corporation Tax expert

HMRC Stakeholder Digest: 26 January 2023

HMRC’s Stakeholder Digest (26 January 2023) provides a round-up of recent news and updates.

27 Jan 2023 00:00 | Published by a Tolley Corporation Tax expert

Popular Articles

Allowable expenses for property businesses

Allowable expenses for property businessesGeneral itemsMany of the principles applying to allowable expenses for property businesses are similar to those that apply for trading and the rules for individuals in a property business are generally the same as for companies with some exceptions which are

14 Jul 2020 13:26 | Produced by Tolley in association with Rob Durrant-Walker of Crane Dale Tax, part of AMS Group Read more Read more

Computation of corporation tax

Computation of corporation taxCompanies pay corporation tax on the taxable total profits (TTP) generated in a chargeable accounting period (CAP).To ascertain whether the entity is within the charge to corporation tax, see the Charge to corporation tax guidance note.For more information on the type

14 Jul 2020 11:16 | Produced by Tolley Read more Read more

Indexation allowance and rebasing

Indexation allowance and rebasingThis guidance note explains the general rules surrounding the availability of indexation allowance (which was frozen at December 2017) on the disposal of company assets and provides information on the rebasing rules for assets held on 31 March 1982. For an overview

14 Jul 2020 11:59 | Produced by Tolley in association with Jackie Barker of Wells Associates Read more Read more