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Pension schemes newsletter 137: February 2022

HMRC has published pension schemes newsletter 137, to update stakeholders on the latest news and updates regarding pension schemes.

28 Feb 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

HMRC guidance: Check if you can claim National Insurance relief in Freeport tax sites

HMRC has published new guidance on claiming relief from employer Class 1 National Insurance contributions (NICs) when taxpayers employ someone in a Freeport tax site.

28 Feb 2022 00:00 | Published by a Tolley Employment Tax expert

Updated plastic packaging tax guidance: packaging components already filled with goods

HMRC has updated its guidance on the import of plastic packaging components to clarify the treatment of packaging which is already filled with goods.

25 Feb 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

HMRC Stakeholder Digest: 24 February 2022

HMRC’s latest Stakeholder Digest (24 February 2022) provides a round-up of the latest news, including notifying HMRC of uncertain tax treatments, the end of the Statutory Sick Pay Rebate Scheme, reporting Covid-19 support payments in the company tax return and a final self-assessment tax return reminder.

25 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

OTS evaluation papers

The Office of Tax Simplification has published new papers on: the role of agents and other intermediaries, the operation of the PAYE system, and the scope of its forthcoming reviews of property income and general approach to simplification.

25 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

Updated HMRC guidance: Statutory Sick Pay Rebate Scheme

HMRC has updated its guidance to confirm that the Coronavirus Statutory Sick Pay Rebate Scheme closes for coronavirus related absences after 17 March 2022.

24 Feb 2022 00:00 | Published by a Tolley Employment Tax expert

Finance Act 2022 receives Royal Assent

Finance Act 2022

24 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

Company cars: advisory fuel rates from 1 March 2022

HMRC has published revised advisory fuel rates for company cars which apply from 1 March 2022.

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

CIOT response: umbrella company market call for evidence

The Chartered Institute of Taxation (CIOT) has responded to HM Treasury’s call for evidence on the role that umbrella companies play in the labour market, and how they interact with the tax system.

23 Feb 2022 00:00 | Published by a Tolley Employment Tax expert

CIOT response: business rates review technical consultation

The CIOT has responded to the Department for Levelling Up, Housing and Communities (DLUHC) and HM Treasury’s technical consultation on the business rates review.

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

CIOT response: Stamp Duty Land Tax: Mixed-Property Purchases and Multiple Dwellings Relief

The CIOT has responded to HMRC’s consultation on proposed changes to the Stamp Duty Land Tax rules for mixed-property purchases and multiple dwellings relief which aim to prevent abuse and reduce potential unfairness in mixed-property transactions.

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

HMRC Note - Purchase of own shares – multiple completion contracts

The CIOT has shared an update from HMRC which clarifies HMRC’s position on the purchase of own shares transactions that are effected by a multiple completion contract.

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

Weekly roundup of HMRC manual changes: 21 February 2022

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

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

Technical consultation: The Registered Pension Schemes (Miscellaneous Amendments) Regulations 2022

HMRC has launched a technical consultation seeking views on draft regulations, that extend information and reporting deadlines in respect of Scheme Pays and the annual allowance tax charge.

21 Feb 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

CIOT response: modernising tax debt collection from non-paying businesses

The Chartered Institute of Taxation (CIOT) has responded to HMRC’s consultation on modernising tax debt collection from non-paying businesses.

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

ATT warns of impact of R&D tax relief plan on small companies

The Association of Taxation Technicians (ATT) is calling for a rethink of the Government’s plan to require companies to notify HMRC in advance that they intend to claim R&D tax reliefs, because the ATT fears it risks denying tax relief to the very smallest and newest companies that need this tax relief the most.

17 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

Agent Update: issue 93

HMRC has published Agent Update issue 93 (February 2022) providing a round-up of recent developments for tax agents and advisers.

17 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

Ground-breaking deal to establish two new Green Freeports in Scotland

The UK and Scottish governments have made a landmark agreement to establish 2 new Green Freeports in Scotland.

16 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

Employer Bulletin: February 2022

HMRC has published its bi-monthly magazine providing the latest information on payroll-related topics for employers and agents.

16 Feb 2022 00:00 | Published by a Tolley Employment Tax expert

HMRC guidance for employers on claiming NICs relief for veterans

HMRC has published new guidance that provides information on how and when employers can claim NICs relief on the earnings of qualifying veterans.

15 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

Popular Articles

Enterprise investment scheme tax relief

Enterprise investment scheme tax reliefOverview of EIS tax reliefsThe enterprise investment scheme (EIS) offers significant tax reliefs to encourage individuals to invest money in qualifying shares issued by qualifying unquoted companies. The scheme is designed to encourage investment in small,

14 Jul 2020 11:36 | Produced by Tolley Read more Read more

Double tax relief

Double tax reliefWhen income arises in a foreign country to a UK resident company and that income is taxable in that foreign country, the UK may give the company relief for the foreign tax by crediting the foreign tax against the UK tax charged on that income. This might include withholding tax on

14 Jul 2020 11:31 | Produced by Tolley in association with Anne Fairpo Read more Read more

Classes of NIC and who pays them

Classes of NIC and who pays themClass 1 NICClass 1 NIC is payable on earnings paid to an employed worker which derive from, or are treated as deriving from, an employed earner’s employment in the UK. There are two kinds of Class 1 NIC, primary contributions for which the employee is liable and

14 Jul 2020 11:13 | Produced by Tolley in association with Jim Yuill at The Yuill Consultancy Read more Read more