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Latest Corporation Tax News

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Weekly Roundup HMRC Manuals: 4 September 2023

4 September 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

04 Sep 2023 00:00 | Published by a Tolley Corporation Tax expert

CIOT response: Pillar One - Amount B

The CIOT has responded to the public consultation on “Pillar One - Amount B” published on 17 July 2023 by the OECD relating to the simplification of transfer pricing rules.

01 Sep 2023 00:00 | Published by a Tolley Corporation Tax expert

Consultation: The Insurance Companies (“The Long-term Business Fixed Capital”) Regulations 2023

HMRC has launched a technical consultation seeking views on draft tax regulations to specify which assets are to be treated as structural assets of an insurance company’s long-term business.

30 Aug 2023 00:00 | Published by a Tolley Corporation Tax expert

Weekly Roundup HMRC Manuals: 29 August 2023

29 August 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

29 Aug 2023 00:00 | Published by a Tolley Corporation Tax expert

Tunisia ratifies BEPS Multilateral Instrument

Tunisia has deposited its instrument of ratification for the BEPS Multilateral Convention.

24 Aug 2023 00:00 | Published by a Tolley Corporation Tax expert

Weekly Roundup HMRC Manuals: 21 August 2023

21 August 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

21 Aug 2023 00:00 | Published by a Tolley Corporation Tax expert

Russia: tax treaties

Russia has suspended substantially all material provisions of many of its Double Taxation Agreements

21 Aug 2023 00:00 | Published by a Tolley Corporation Tax expert

Agent Update: issue 111

HMRC has published Agent Update issue 111 (17 August 2023) providing a round-up of recent developments and changes to legislation and allowances relating to UK tax for tax agents and advisers.

17 Aug 2023 00:00 | Published by a Tolley Corporation Tax expert

HMRC extends trial for responding to older post

The ICAEW has advised that HMRC is extending its trial for responding to old post.

15 Aug 2023 00:00 | Published by a Tolley Corporation Tax expert

CIOT response: Reform of UK law in relation to transfer pricing, permanent establishment, and Diverted Profits Tax

The CIOT has responded to the HMRC consultation on the Reform of UK law in relation to transfer pricing, permanent establishment and Diverted Profits Tax.

14 Aug 2023 00:00 | Published by a Tolley Corporation Tax expert

Weekly Roundup HMRC Manuals: 14 August 2023

14 August 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

11 Aug 2023 00:00 | Published by a Tolley Corporation Tax expert

HMRC directions: R&D claims

HMRC has published directions under

09 Aug 2023 00:00 | Published by a Tolley Corporation Tax expert

Weekly Roundup HMRC Manuals: 7 August 2023

7 August 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

07 Aug 2023 00:00 | Published by a Tolley Corporation Tax expert

HMRC increases late-payment interest rates

HMRC is increasing the late-payment interest rate to 7.75% and the repayment rate to 4.25% from 22 August 2023. Interest on quarterly instalment payments of corporation tax is also increased from 14 August 2023.

04 Aug 2023 00:00 | Published by a Tolley Corporation Tax expert

Second Investment Zone for the North announced

The government has launched England’s second Investment Zone in Liverpool focused on life sciences.

02 Aug 2023 00:00 | Published by a Tolley Corporation Tax expert

Treasury Committee calls for action on complex, un-costed and exploited tax reliefs

The Treasury Committee calls for a systematic review into the cost of over a thousand tax reliefs which complicate the tax system and are open to abuse.

02 Aug 2023 00:00 | Published by a Tolley Corporation Tax expert

Weekly Roundup HMRC Manuals: 31 July 2023

31 July 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

31 Jul 2023 00:00 | Published by a Tolley Corporation Tax expert

Updated HMRC guidance: disposing of a super-deduction or special rate first year allowance asset

HMRC has updated its guidance on working out the balancing charge when a plant or machinery is sold or disposed by a company after claiming allowances for them.

26 Jul 2023 00:00 | Published by a Tolley Corporation Tax expert

Weekly Roundup HMRC Manuals: 24 July 2023

24 July 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

24 Jul 2023 00:00 | Published by a Tolley Corporation Tax expert

UKEB adopts International Tax Reform: Pillar Two Model Rules (Amendments to IAS 12)

The UKEB has confirmed the adoption of amendments to IAS 12 International Tax Reform: Pillar Two Model Rules which was issued by the IASB in May 2023.

24 Jul 2023 00:00 | Published by a Tolley Corporation Tax expert

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Trade or hobby

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Losses on shares set against income

Losses on shares set against incomeUsually, allowable capital losses can only be set against chargeable gains. If the losses are not fully utilised against gains in the year in which they arise, the excess is carried forward to use against future gains. See the Use of capital losses guidance note

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