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Penalties Finance Act 2021 (Schedule 26 Second Penalty Assessments) (Appointed Day: Regulation Making Power) Regulations SI 2024/1132 appoint 12 November 2024 as the day on which...

New guidance sets out how businesses should submit their VAT returns if they are exempt from using compatible software for making tax digital (MTD) for VAT. If a business applied...

An avoidance scheme which uses limited liability partnerships to disguise employment income is the subject of HMRC Spotlight 66. HMRC says it has become aware of a scheme called...

Total VAT receipts in the financial year 2023-24 increased by 6% to almost £169bn compared to just under £160bn in 2022-23, according to HMRC’s statistics. The...

The EU economic and financial affairs council (ECOFIN) has reached agreement on the EU’s VAT in the digital age (ViDA) initiative. The agreement covers three acts – a...

The Independent Schools Council (ISC) is to launch legal action against the government’s decision to levy VAT on independent school fees. The ISC, an umbrella body for seven...

From 6 April 2025, tax agents who submit income tax or PAYE repayment claims on behalf of others and who are nominated to receive the repayment will need to use an advanced...

Finance BillThe Finance Bill 2024-25 and accompanying explanatory notes have been published. The bill has 86 clauses and 13 schedules. It was given its first reading in the House...

Double cab pick-up vehicles (DCPUs) with a payload of one tonne or more are to be treated as cars for specified tax purposes. The autumn Budget Red Book states that from 1 April...

The lower rate of capital gains tax will rise from 10% to 18% and the higher rate from 20% to 24%. These new rates came into effect on 30 October. The rates for business asset...

The government is introducing reforms to the taxation of employee ownership trusts (EOTs) and employee benefit trusts to ‘prevent opportunities for abuse, ensuring that the...

New legislation will be introduced to tackle tax non-compliance among umbrella companies, the chancellor announced. An HMRC policy paper states that, from April 2026, agencies...

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Tax tip: Temporary workplace relief and the self-employed Feedback: 17 April 2025 Readers’ forum: Tax effect of leaving the UK on life assurance policy Readers’ forum: Will executors be able to claim residence nil rate band on death? Readers’ forum: What is the tax position if company is liquidated?