In brief: 11 May 2023

Energy-saving materials

HMRC has updated VAT Notice 708/6: Energy-saving materials and heating equipment to add guidance on the time-limited zero rate of VAT for installations of energy-saving materials installed in residential accommodation in Northern Ireland with effect from 1 May 2023.

tinyurl.com/vatn7086

Notifiable arrangements

The Indirect Taxes (Notifiable Arrangements) (Amendment) Regulations SI 2023/473 ensure that the description of VAT avoidance arrangements concerning offshore supplies includes transactions between members of the same VAT group.

tinyurl.com/si2023473

Bursaries

The Income Tax (Care Leaver’s Apprenticeship Bursary Payment) (Amendment) Regulations SI 2023/482 ensure that the income tax exemption applies to the new payment rate made by the Department of Education to care leavers starting an English statutory apprenticeship on or after 1 August.

tinyurl.com/si2023482

Exchange rates

HMRC has published the yearly average and spot foreign exchange rates for the year to 31 March 2023.

tinyurl.com/hmrcexrates

Agent accounts

HMRC has updated its...