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Weekly roundup of HMRC manual changes: 6 September 2021

6 September 2021 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

06 Sep 2021 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC post-Brexit import, export and customs guidance: 6 September 2021

HMRC has updated its import, export and customs guidance to reflect the post Brexit regime. The update covers the period from 31 August 2021 to 6 September.

06 Sep 2021 00:00 | Published by a

Law society response: Income tax basis period reform consultation

The Law Society has responded to HMRC’s consultation on basis period reform which closed on 31 August 2021.

02 Sep 2021 00:00 | Published by a Tolley Owner-Managed Businesses expert

HMRC Trusts and Estates Newsletter: September 2021

HMRC has published the September 2021 edition of its Trusts and Estates Newsletter.

02 Sep 2021 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Trust Registration Service opens for non-taxable trusts

HMRC has announced that the Trust Registration Service (TRS) is now open for non-taxable trust registrations.

02 Sep 2021 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

HMRC updated guidance: Accounting for import VAT on the VAT return

HMRC has updated its guidance on accounting for import VAT on the VAT return, to address a problem with monthly VAT statements which has caused difficulties for businesses which use simplified declarations for imports.

02 Sep 2021 00:00 | Published by a Tolley Value Added Tax expert

Algeria joins Global Forum on Transparency and Exchange of Information for Tax Purposes

Algeria has joined the Global Forum on Transparency and Exchange of Information for Tax Purposes.

02 Sep 2021 00:00 | Published by a Tolley Owner-Managed Businesses expert

Jamaica and Ukraine commit to start automatic exchange of financial account

Jamaica and Ukraine have committed to implement the international Standard for Automatic Exchange of Financial Account Information in Tax Matters (AEOI) by 2022 and 2023 respectively.

02 Sep 2021 00:00 | Published by a Tolley Corporation Tax expert

ATT response: Basis period reform

Responding to HMRC’s consultation on basis period reform, the Association of Taxation Technicians (ATT) has called for a delay to the implementation of plans to change how partners and sole traders calculate their taxable profits each year.

02 Sep 2021 00:00 | Published by a Tolley Owner-Managed Businesses expert

Government to proceed with revoking VAT public bodies order

Following a short consultation from 20 July 2021, the government has confirmed that it will proceed to make The Value Added Tax (Treatment of Transactions) (Revocation) Order 2021 with no changes.

01 Sep 2021 00:00 | Published by a Tolley Value Added Tax expert

Updated HMRC guidance for taxable and non-taxable trusts

HMRC has updated its guidance with information on which trusts are to be registered and which are not.

01 Sep 2021 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Togo joins OECD's two-pillar plan and BEPS inclusive framework

Togo has joined the BEPS inclusive framework and the two-pillar plan to reform the international taxation rules to ensure that multinational enterprises pay a fair share of tax wherever they operate.

01 Sep 2021 00:00 | Published by a Tolley Corporation Tax expert

Confirmation and review of VAT concessionary treatment for counsel’s fees

The Law Society reports that HMRC has confirmed that an existing VAT concession for counsel’s fees remains in place at present but is under review.

01 Sep 2021 00:00 | Published by a Tolley Value Added Tax expert

CIOT response: Basis period reform

The Chartered Institute of Taxation (CIOT) has responded to the HMRC’s consultation on basis period reform which closed on 31 August 2021.

01 Sep 2021 00:00 | Published by a Tolley Owner-Managed Businesses expert

Scotland's first framework for tax and tax policy in relation to the Scottish Budget 2022-23

The Scottish Government has launched a consultation seeking the public’s views on its overarching approach to tax policy, through Scotland’s first framework for tax, and how the Scottish Government should use its devolved and local tax powers as part of the Scottish Budget 2022–23, particularly to support the ongoing economic recovery from coronavirus (COVID-19). The consultation also outlines the Scottish Government’s tax programme for this Parliament.

01 Sep 2021 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC post-Brexit import, export and customs guidance: 31 August 2021

HMRC has updated its import, export and customs guidance to reflect the post Brexit regime. The update covers the period from 23 August 2021 to 31 August 2021.

31 Aug 2021 00:00 | Published by a

Weekly roundup of HMRC manual changes: 31 August 2021

31 August 2021 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

31 Aug 2021 00:00 | Published by a Tolley Corporation Tax expert

Tax news roundup: 31 August 2021

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.

31 Aug 2021 00:00 | Published by a

SDLT guidance update on seeding relief

HMRC has updated its guidance with a new section 'Seeding relief for Property Authorised Investment Funds or Co-Ownership Authorised Contractual Schemes’.

27 Aug 2021 00:00 | Published by a Tolley Owner-Managed Businesses expert

Pension schemes newsletter 132 — August 2021

HMRC has published pension schemes newsletter 132, which informs relevant stakeholders of the latest news and updates regarding pension schemes.

27 Aug 2021 00:00 | Published by a Tolley Personal Tax expert

Popular Articles

Payments on account (POA)

Payments on account (POA)This guidance note provides and overview of the payments on account regime (POA). More in depth commentary can be found in De Voil Indirect Tax Service V5.110.What are payments on account?VAT registered businesses with an annual VAT liability of more than £2.3m are required

14 Jul 2020 12:52 | Produced by Tolley Read more Read more

Payroll record keeping

Payroll record keepingUnder SI 2003/2682, reg 97, “...an employer must keep, for not less than 3 years after the end of the tax year to which they relate, all PAYE records which are not required to be sent to [HMRC]...”. Reasons for keeping the records include:•being able to calculate tax and

14 Jul 2020 12:52 | Produced by Tolley in association with Ian Holloway Read more Read more

Loans written off

Loans written offCompanies sometimes provide directors, employees or shareholders with low interest or interest-free loans either as part of the reward package or on special occasions to help the individual meet significant expenditure. The employment income implications of these loans are discussed

14 Jul 2020 12:11 | Produced by Tolley Read more Read more