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Latest Corporation Tax News

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Updated Spotlight 58: Disguised remuneration: tax avoidance using unfunded pension arrangements

HMRC has updated its spotlight on tax avoidance arrangements seeking to avoid corporation tax, income tax and national insurance contributions by using unfunded pension arrangements.

18 Jan 2023 00:00 | Published by a Tolley Corporation Tax expert

SI 2023/38 The International Tax Enforcement (Disclosable Arrangements) Regulations 2023

This instrument implements the Organisation for Economic Co-operation and Development’s (OECD) Model Mandatory Disclosure Rules (MDR) for Common Reporting Standard (CRS) Avoidance Arrangements and Opaque Offshore Structures.

18 Jan 2023 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 16 January 2023

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

16 Jan 2023 00:00 | Published by a Tolley Corporation Tax expert

Consultation: R&D Tax Reliefs Review

A consultation has been launched seeking views on simplification of the UK’s R&D tax relief system. The consultation closes on 13 March 2023.

16 Jan 2023 00:00 | Published by a Tolley Corporation Tax expert

Updated HMRC guidance: Annual Tax on Enveloped Dwellings

HMRC has updated its guidance on Annual Tax on Enveloped Dwellings.

16 Jan 2023 00:00 | Published by a Tolley Corporation Tax expert

Finance Act 2023 receives Royal Assent

Finance Act 2023

10 Jan 2023 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 9 January 2023

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

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

Finance Bill to receive Royal Assent on 10 January 2023

The Autumn 2022 Finance Bill has been scheduled to receive Royal Assent on Tuesday 10 January 2023.

06 Jan 2023 00:00 | Published by a Tolley Corporation Tax expert

HMRC yearly average and spot rates

HMRC has published its updated list of yearly average and spot foreign exchange rates for the year to 31 December 2022.

06 Jan 2023 00:00 | Published by a Tolley Corporation Tax expert

Spotlight 61: Disguised remuneration: trusts used to reduce profits and disguise income

HMRC has published Spotlight 61 about tax avoidance schemes that use remuneration trusts to reduce profits and disguise income.

23 Dec 2022 00:00 | Published by a Tolley Corporation Tax expert

Agent Update: issue 103

HMRC has published Agent Update issue 103 (December 2022) providing a round-up of recent developments and changes to legislation and allowances relating to UK tax for tax agents and advisers

22 Dec 2022 00:00 | Published by a Tolley Corporation Tax expert

OTS publishes report on hybrid and distance working

The Office of Tax Simplification (OTS) has published its report on the tax complexities driven by hybrid working, including for periods where employees choose to work overseas.

21 Dec 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC consultation: The Transfer Pricing Records Regulations 2023

A consultation has been launched seeking views on the draft Transfer Pricing Records Regulations 2023.

21 Dec 2022 00:00 | Published by a Tolley Corporation Tax expert

OECD consultation on compliance and tax certainty aspects of global minimum tax

The OECD is seeking public comments on compliance and co-ordination aspects of the Pillar Two global minimum tax.

21 Dec 2022 00:00 | Published by a Tolley Corporation Tax expert

OECD consultation on digital services taxes under Amount A of Pillar One

The OECD is seeking public comments on the draft Multilateral Convention (MLC) provisions on Digital Services Taxes (DSTs) and other relevant similar measures under Amount A of Pillar One.

21 Dec 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC consultation: Draft guidance on Research and Development (R&D) tax reliefs

HMRC has launched a consultation seeking views on draft guidance on changes to the Research and Development (R&D) tax reliefs.

21 Dec 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC updates interest rates following Bank of England decision

HMRC is increasing the late-payment rate of interest to 6%, and the repayment rate to 2.5%, from 6 January 2023. Interest on quarterly instalment payments of corporation tax is also increased from 26 December 2022.

20 Dec 2022 00:00 | Published by a Tolley Corporation Tax expert

Spring Budget 2023 date announced

The Chancellor has announced that the Spring Budget 2023 will be on 15 March 2023.

19 Dec 2022 00:00 | Published by a Tolley Corporation Tax expert

Land and Buildings Transaction Tax (additional amount: transactions relating to second homes etc) (Scotland) Amendment Order, SSI 2022/375

These Regulations increase the land and buildings transaction tax additional dwelling supplement in Scotland from 4% to 6% with effect from 16 December 2022.

19 Dec 2022 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 19 December 2022

19 December 2022 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

19 Dec 2022 00:00 | Published by a Tolley Corporation Tax expert

Popular Articles

Trade or hobby

Trade or hobbyInteraction of hobby farming rules and commercialityFarming has its own set of ‘hobby farming rules’, which historically have stated that a profit must be made every six years. This is known as ‘the five-year rule’, in that there can be five years of losses but there must be a profit

14 Jul 2020 13:50 | Produced by Tolley Read more Read more

Payroll record keeping

Payroll record keepingUnder SI 2003/2682, reg 97, “...an employer must keep, for not less than 3 years after the end of the tax year to which they relate, all PAYE records which are not required to be sent to [HMRC]...”. Reasons for keeping the records include:•being able to calculate tax and

14 Jul 2020 12:52 | Produced by Tolley in association with Ian Holloway Read more Read more

Supplies of goods and services connected with education

Supplies of goods and services connected with educationThis guidance note provides an overview of the VAT treatment of goods and services provided in connection with supplies of education. This should be read in conjunction with the following guidance notes:•Supplies of education•Local authority

14 Jul 2020 13:44 | Produced by Tolley Read more Read more