In brief: 30 January 2025

Budget charter

The final version of the charter for budget responsibility has been published. It sets out a new fiscal framework as announced at autumn Budget 2024.

tinyurl.com/hmrcbudgetcharter

Pensions

HMRC has published Pensions schemes newsletter 166 for January 2025. It includes articles on the pensions inheritance tax consultation tax codes pension scheme returns relief at source lifetime allowance protection and enhancements payment update on low earners public service pensions remedy and pension flexibility statistics.

tinyurl.com/hmrcpsn166

Offshore interest

The CIOT has published its response to the HMRC consultation on simplifying the taxation of offshore interest. The response addresses the complexities and potential solutions for taxing overseas investment income.

tinyurl.com/ciotoffshoreintres

Making tax digital

HMRC has published a new notice on digital record keeping for making tax digital for income tax. It has also updated the notice on the information to be submitted...