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Latest Tax News

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VAT Notice 733: Flat Rate Scheme for small businesses

HMRC has published a new VAT notice 733 on the Flat Rate Scheme for small businesses

07 Oct 2022 00:00 | Published by a Tolley Value Added Tax expert

Paying taxes in the UK if you work for an employer based in Ukraine

HMRC has published new guidance on paying Income Tax and National Insurance Contributions (NIC) for individuals who arrive in the UK but are still working for an employer in Ukraine.

07 Oct 2022 00:00 | Published by a Tolley Employment Tax expert

Mongolia and South Africa strengthen tax treaties

Mongolia has signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting. South Africa has also deposited its instrument of ratification for the BEPS convention.

07 Oct 2022 00:00 | Published by a Tolley Corporation Tax expert

New HMRC Guidelines for Compliance pages

HMRC has published several new guidance pages to its “Guidelines for Compliance”.

07 Oct 2022 00:00 | Published by a Tolley Employment Tax expert

OECD consultation on the progress report under Amount A of Pillar One

The OECD is seeking public comments on the Progress Report on the Administration and Tax Certainty Aspects of Amount A of Pillar One.

07 Oct 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC publishes new GAAR Advisory Panel opinion on SDLT arrangements

HMRC has published a new GAAR Advisory Panel opinion on Stamp Duty Land Tax arrangements in relation to the sale and purchase of a residential property, involving an alternative finance agreement and a lease agreement.

06 Oct 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

Updated VAT Notice 731: Cash Accounting Scheme

HMRC has updated VAT notice 731 to include information about the VAT domestic reverse charge.

06 Oct 2022 00:00 | Published by a Tolley Value Added Tax expert

EU adds Anguilla, the Bahamas and the Turks and Caicos Islands to list of non-cooperative jurisdictions

The EU Council has placed Anguilla, The Bahamas and the Turks and Caicos Islands on the EU list of non-cooperative jurisdictions for tax purposes (Annex I) over concerns that these jurisdictions, which all have a zero or nominal only rate of corporate income tax, are attracting profits without real economic activity and have not adequately addressed recommendations of the OECD Forum on Harmful Tax Practices which they committed to earlier this year. This increases the number of jurisdictions on the so-called blacklist to 12. The others are: American Samoa, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands, Vanuatu. Turks and Caicos Islands is now listed for the first time. The Bahamas was already once listed in 2018, and Anguilla once in 2020.

05 Oct 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC reminder: Making Tax Digital for VAT

HMRC has published a reminder that businesses will no longer be able to use their existing VAT online account to submit VAT returns from 1 November 2022

05 Oct 2022 00:00 | Published by a Tolley Corporation Tax expert

Uncertainty as to timing of Medium-Term Fiscal Plan

The Treasury Committee tweeted that the Chancellor has agreed to bring forward the date of the next fiscal event, originally scheduled to take place on 23 November, to some time in October. However, the Chancellor himself seemed to dispute this, noting in an interview that the Medium-Term Fiscal Plan will take place on 23 November.

04 Oct 2022 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC post-Brexit import, export and customs guidance: 3 October 2022

HMRC has updated its import, export and customs guidance to reflect the post-Brexit regime. The update covers the period from 26 September 2022 to 3 October 2022.

03 Oct 2022 00:00 | Published by a

Regulatory capital exemption from hybrid and other mismatch rules to continue past 1 January 2023

Regulations are expected to be laid in time to ensure the exemption continues past 1 January 2023 when it otherwise had been due to expire.

03 Oct 2022 00:00 | Published by a Tolley Corporation Tax expert

Government U turn on repeal of 45% tax rate for highest earners

Chancellor Kwasi Kwarteng announced that the Government is reversing the plan to scrap the 45p income tax on individuals earning more than £150,000 a year.

03 Oct 2022 00:00 | Published by a Tolley Personal Tax expert

Updated HMRC guidance on paying a tax bill

HMRC has updated its guidance on What will happen if you do not pay your tax bill.

03 Oct 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

Updated VAT Notice 700/24: Postage, delivery and direct marketing

HMRC has updated VAT notice 700/24 to clarify that where there is no extra charge for delivery, the full sales price accounts for VAT.

03 Oct 2022 00:00 | Published by a Tolley Value Added Tax expert

Tax news roundup: 3 October 2022

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.

03 Oct 2022 00:00 | Published by a

Pension schemes newsletter 143: September 2022

HMRC has published pension schemes newsletter 143.

03 Oct 2022 00:00 | Published by a Tolley Employment Tax expert

Weekly roundup of HMRC manual changes: 3 October 2022

3 October 2022 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.UK

02 Oct 2022 18:30 | Published by a Tolley Corporation Tax expert

Manage team members using your HMRC business tax account

HMRC has published new guidance on how to add a team member to a business tax account and give them access to a tax, duty or scheme.

30 Sep 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC Stakeholder Digest: 28 September 2022

HMRC’s Stakeholder Digest (28 September 2022) provides a round-up of recent news.

30 Sep 2022 00:00 | Published by a Tolley Corporation Tax expert

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Inter-spouse transfer

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Tax on UK resident beneficiaries of non-resident trusts ― overview

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Interest on late paid tax

Interest on late paid taxIntroductionInterest on late paid tax is a compulsory charge set out in legislation to reflect the interest which would have accrued to the Exchequer had the correct amount of tax been paid at the right time.Harmonised legislation was introduced in 2009 to:•set statutory

14 Jul 2020 12:00 | Produced by Tolley in association with Philip Rutherford Read more Read more