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Welsh Land Transaction Tax (LTT) update to thresholds and rates

The Wales Finance minister has announced that the LTT nil rate threshold will increase to £225,000 and there will be an increase in some rates from 10 October 2022.

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

CC/FS71: Compliance checks: information notices: penalties for facilitating avoidance schemes involving non-resident promoters

HMRC has published a new factsheet CC/FS71 Compliance checks: information notices on penalties for facilitating avoidance schemes involving non-resident promoters.

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

CIOT response: Finance Bill 2022-23 draft legislation

The CIOT has responded to the Finance Bill 2022-23 draft legislation on capital gains tax: transfers of assets between spouses and civil partners in the process of separating; new transfer pricing documentation requirements for UK businesses; and low earners anomaly: pensions relief relating to net pay arrangements.

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

ATT responds to Growth Plan

The ATT has responded to various of the Chancellor’s announcements in the Growth Plan unveiled on 23 September 2022, including in relation to the change to IR35.

29 Sep 2022 00:00 | Published by a

Updated VAT Notice 701/19: Fuel and power

HMRC has updated VAT Notice 701/19 to include information about the VAT reverse charge measures for wholesale gas and electricity, and construction services and more detail about supplies of hydrogen gas.

29 Sep 2022 00:00 | Published by a Tolley Value Added Tax expert

Clients of repayment agent to be refunded directly by HMRC

HMRC has confirmed that a large number of taxpayers who have reclaimed tax payments using the repayment agent Tax Credits Ltd since December 2021 will be due a direct refund from HMRC.

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

HMRC publishes new GAAR Advisory Panel opinion

HMRC has published a new GAAR Advisory Panel opinion on the extraction of cash (or equivalent) using trust interests, limited liability partnership and the novation of loans.

29 Sep 2022 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Updated VAT Notice 700/12: How to fill in and submit the VAT Return

HMRC has updated VAT Notice 700/12 to include in 4.6 on ‘reverse charge accounting’ more goods and services where the reverse charge applies, and the VAT return boxes businesses need to complete.

29 Sep 2022 00:00 | Published by a Tolley Value Added Tax expert

HM Treasury response to Bank of England financial stability intervention

HM Treasury has fully indemnified the Bank of England's intervention to restore orderly markets.

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

Call for evidence: review of hybrid and distance working

The deadline for the call for evidence on the review of hybrid and distance working has been amended.

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

Updated HMRC guidance on Making Tax Digital for VAT

HMRC has updated various guidance on Making Tax digital for VAT.

28 Sep 2022 00:00 | Published by a Tolley Value Added Tax expert

HMRC raises interest rates following Bank of England decision

The late-payment interest rate will increase to 4.75% and the repayment rate to 1.25%, from 11 October 2022. Corporation tax quarterly instalment rates will increase from 3 October 2022.

28 Sep 2022 00:00 | Published by a

Updated HMRC guidance on uncertain tax treatment

HMRC has updated its guidance on uncertain tax treatment.

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

IFRS 17: Technical consultation on draft legislation

HMRC has launched a technical consultation seeking views on draft regulations that will spread the transitional impact of IFRS 17 and revoke the requirement for life insurance companies to spread acquisition expenses over 7 years.

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

Updated guidance on goods or services supplied to charities (VAT Notice 701/58)

HMRC has updated various sections in the VAT notice to include additional conventional advertising media, businesses to include in the meaning of ‘general public’ and range of digital advertising situations that qualify for standard and zero rate of VAT.

27 Sep 2022 00:00 | Published by a Tolley Value Added Tax expert

HMRC guidance: How HMRC resolves civil tax disputes

HMRC has published a page on their approach to resolve civil tax disputes and information on its internal governance processes.

27 Sep 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

Call for Evidence: Scottish Government block grant adjustments for tax and welfare devolution

The closing deadline for the call for evidence on Scottish Government block grant adjustments for tax and welfare devolution has been extended to 28 September 2022.

27 Sep 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

Government announces medium-term Fiscal Plan

Chancellor Kwasi Kwarteng will set out the governments medium-term Fiscal Plan on 23 November.

27 Sep 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

SI 2022/987 The Statutory Sick Pay (Coronavirus) (Suspension of Waiting Days) (Saving Provision) (Northern Ireland) Regulations 2022

These Regulations make a saving provision for Northern Ireland following the expiry of Coronavirus Act 2020 s 43 at midnight on 24 September 2022.

26 Sep 2022 00:00 | Published by a Tolley Employment Tax expert

Designation of Freeport Tax Sites in Solent, Plymouth and South Devon

Regulations have been laid to designate areas in the Solent and Plymouth and South Devon as Freeport Tax Sites from 14 October 2022.

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

Popular Articles

Gifts out of surplus income

Gifts out of surplus incomeA valuable exemption from inheritance tax (IHT) applies to gifts out of surplus income. This exemption applies only to lifetime gifts and is therefore a key part of lifetime planning. The exemption applies to both outright gifts and gifts into trust. Gifts which meet the

14 Jul 2020 11:48 | Produced by Tolley in association with Emma Haley at Boodle Hatfield LLP Read more Read more

Residential property and capital allowances

Residential property and capital allowancesResidential property ― plant and machinery allowancesOrdinary residential property does not, and never has, qualified for capital allowances. as CAA 2001, s 35 denies plant allowances for expenditure incurred in providing plant or machinery for use in a

14 Jul 2020 17:14 | Produced by Tolley in association with Martin Wilson and Steven Bone Read more Read more

Fuel-related payments / mileage payments

Fuel-related payments / mileage paymentsIntroductionMost employers will make payments to employees in relation to business travel. Among the most common payments in relation to business travel are fuel and mileage payments. If an employer does not reimburse these amounts, then the employee will be

14 Jul 2020 11:46 | Produced by Tolley in association with Philip Rutherford Read more Read more