In brief: 17 October 2024

Making tax digital

HMRC has updated its guidance on making tax digital for income tax. Information has been updated on what to do and expect before signing up about records which can be kept digitally to confirm action required to change from calendar update periods to standard update periods to confirm information on personal income sources must be sent to HMRC before final declaration is made and to reflect the current support available. In addition a new ‘after you sign up’ section has been added.

tinyurl.com/hmrcguidancemtd

Aggregates tax

The Aggregates Tax and Devolved Taxes Administration (Scotland) Bill has been approved by the Scottish parliament. It replaces the UK aggregates levy and taxes the sale or use of aggregates consisting of freshly extracted rock gravel or sand.

tinyurl.com/govscotaggregbill

Low-budget films

The Corporation Tax (Certification as Low-Budget Film) Regulations SI 2024/1009 are made to introduce a higher rate of tax relief under CTA...