In brief: 9 May 2024

VAT

HMRC has published a manual containing the VAT tertiary legislation.

tinyurl.com/hmrcvattertiary

Making tax digital

The guidance on penalties for taxpayers who voluntarily join the making tax digital for income tax self-assessment service has been updated to confirm that where a time-to-pay arrangement is made within 15 days of the due date it will prevent a late payment penalty as long as the taxpayer upholds the agreement.

tinyurl.com/hmrcmtditsapppens

Compliance

The International Tax Compliance (Amendment) Regulations SI 2024/544 amend SI 2015/878 to give effect to arrangements reached between the UK and other jurisdictions in relation to international tax compliance.

tinyurl.com/si2024544

Corporation tax

The Mutual Societies (Transfers of Business) (Tax) (Amendment) Regulations SI 2024/555 amend SI 2009/2971 to reflect the provisions in CTA 2010 on the use of carried forward trade losses in the event of transfers of trade.

tinyurl.com/si2024555

Sporting exemption

The Major Sporting Events (Income Tax Exemption) (2024 UEFA Champions League Final) Regulations SI 2024/546 provide an exemption from UK...