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Weekly roundup of HMRC import, export and customs guidance: 27 January 2025

Details of updates to HMRC import, export and customs guidance for the period from 21 to 27 January 2025.

27 Jan 2025 00:00 | Published by a

SI 2025/52 The MPs’, Senedd and Assembly Pension Schemes (Tax) Regulations 2025

These Regulations are made to address the tax consequences of changes arising from the rectification exercises carried out by the Parliamentary Contributory Pension Fund (PCPF), the Members of the Senedd Pension Scheme (Senedd Scheme) or an Assembly Members’ Pension Scheme (Northern Ireland)

24 Jan 2025 00:00 | Published by a Tolley Employment Tax expert

Independent Review of the Loan Charge

The Government has commissioned a new independent review of the Loan Charge.

24 Jan 2025 00:00 | Published by a Tolley Employment Tax expert

Final version of Charter for Budget Responsibility published

The final version of the document as it has been laid in Parliament has been published.

23 Jan 2025 00:00 | Published by a Tolley Corporation Tax expert

SI 2025/54 The Land Transaction Tax (Modification of Special Tax Sites Relief) (Wales) Regulations 2025

These Regulations are made to amend the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (the 2017 Act) to amend Schedule 21A (relief for special tax sites) which provides for a relief from land transaction tax for qualifying transactions of land within a special tax site.

23 Jan 2025 00:00 | Published by a Tolley Corporation Tax expert

SI 2025/53 The Income Tax (Indexation of Blind Person’s Allowance and Married Couple’s Allowance) Order 2025

This Order fulfils the indexation requirements in section 57 (indexation of allowances) of the Income Tax Act 2007 (ITA 2007) in respect of blind person’s allowance and married couple’s allowance, which are increased by reference to the Consumer Price Index.

22 Jan 2025 00:00 | Published by a Tolley Personal Tax expert

Pensions schemes newsletter 166 — January 2025

HM Revenue and Customs (HMRC) has published Pensions schemes newsletter 166 for January 2025

22 Jan 2025 00:00 | Published by a Tolley Employment Tax expert

SI 2025/51 The Income Tax (Indexation of Qualifying Care Relief Amounts) Order 2025

This Order fulfils the indexation requirements in section 828A (indexation of the fixed amount and the amount per adult and child) of the Income Tax (Trading and Other Income) Act 2005 (IT(TOI)A 2005) in respect of qualifying care relief amounts, which are increased by reference to the consumer price index.

22 Jan 2025 00:00 | Published by a Tolley Personal Tax expert

DWP concludes annual statutory review of AE thresholds for 2025 to 2026 financial year

Department for Work and Pensions (DWP) has concluded its annual statutory review of the Automatic Enrolment (AE) thresholds for the 2025 to 2026 financial year

22 Jan 2025 00:00 | Published by a Tolley Employment Tax expert

CIOT response: The Tax Administration Framework Review: New ways to tackle non-compliance

The CIOT has published its response to the HMRC consultation on “The Tax Administration Framework Review: New ways to tackle non-complianceâ€. The response addresses various proposals aimed at improving tax compliance and administration.

21 Jan 2025 00:00 | Published by a Tolley Corporation Tax expert

CIOT response: Simplifying the Taxation of Offshore Interest

The CIOT has published its response to the HMRC consultation on “Simplifying the Taxation of Offshore Interestâ€. The response addresses the complexities and potential solutions for taxing overseas investment income.

21 Jan 2025 00:00 | Published by a Tolley Owner-Managed Businesses expert

Weekly Roundup HMRC Manuals: 20 January 2025

20 January 2025 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

20 Jan 2025 00:00 | Published by a Tolley Corporation Tax expert

New and updated MTD notices

HMRC has published a new notice on digital record keeping for Making Tax Digital for Income Tax. It has also updated the notice on the information to be submitted with details about the quarterly update information that must be provided by a relevant person with property income and profits from a jointly let property.

20 Jan 2025 00:00 | Published by a Tolley Owner-Managed Businesses expert

Tax news roundup: 20 January 2025

In the ever-fast-moving world of tax announcements and developments, this news pulls together some of the key changes announced this week. Our commentary will be updated in due course to reflect these latest developments.

20 Jan 2025 00:00 | Published by a

Weekly roundup of HMRC import, export and customs guidance: 20 January 2025

Details of updates to HMRC import, export and customs guidance for the period from 14 to 20 January 2025.

20 Jan 2025 00:00 | Published by a

SI 2025/41 The Neonatal Care (Leave and Pay) Act 2023 (Commencement No. 2) Regulations 2025

Certain provision of the Neonatal Care (Leave and Pay) Act 2023 (the 2023 Act) come into force on 17 January 2025.

20 Jan 2025 00:00 | Published by a Tolley Employment Tax expert

Agent Update: Issue 127

HMRC has published Issue 127 of the Agent Update with updates and information relevant to tax agents and their clients.

17 Jan 2025 00:00 | Published by a Tolley Corporation Tax expert

New HMRC guidance: Help with labour supply chain assurance

HMRC has published GfC12 guidelines ‘Help with labour supply chain assurance’.

17 Jan 2025 00:00 | Published by a Tolley Corporation Tax expert

OECD global minimum tax update: Release of compilation of qualified legislation and information filing and exchange tools

The Inclusive Framework on Base Erosion and Profit Shifting (BEPS) has released a compilation of qualified domestic rules and tools to streamline the administration of the global minimum tax.

16 Jan 2025 00:00 | Published by a Tolley Corporation Tax expert

Updated guidance: Use Making Tax Digital for Income Tax 2025

The guidance on “Finalise your income tax position†has been updated.

16 Jan 2025 00:00 | Published by a Tolley Owner-Managed Businesses expert

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Spouse exemption from inheritance tax

Spouse exemption from inheritance taxArguably, the most important inheritance tax exemption is the spouse exemption from inheritance tax.There is no IHT to pay on gifts from husband to wife and vice versa, or from one civil partner to the other (referred to collectively in this note as ‘spouses’).

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Tax implications of administration and liquidation

Tax implications of administration and liquidationThis guidance considers the tax implications of a company going into administration or liquidation.Introduction to company administration and liquidationCompany going into administrationA company which is in financial difficulty may go into

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Overseas property businesses for companies

Overseas property businesses for companiesOverviewReal estate income is generally taxed where the property is located; the UK tax treaties generally allow the jurisdiction where the land is located to tax income from the land.Therefore, a UK company with overseas property may be subject to tax in

14 Jul 2020 12:22 | Produced by Tolley in association with Rob Durrant-Walker of Crane Dale Tax, part of AMS Group Read more Read more