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LBTT: Additional Dwelling Supplement: call for evidence and views

The Scottish Government has launched a consultation seeking the public’s views on the operation of the Land and Buildings Transaction Tax (LBTT) Additional Dwelling Supplement (ADS). This will be the first stage in the review of the ADS announced in the 2021-22 Programme for Government.

21 Dec 2021 00:00 | Published by a Tolley Owner-Managed Businesses expert

CC/FS14: Compliance checks: managing serious defaulters

HMRC has rewritten its factsheet on managing serious defaulters.

20 Dec 2021 00:00 | Published by a Tolley Corporation Tax expert

HMRC late payment interest rates to be revised after Bank of England increases base rate

HMRC interest rates for late payments will be revised following the Bank of England interest rate rise to 0.25% from 0.1%.

20 Dec 2021 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 20 December 2021

20 Decemebr 2021 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

20 Dec 2021 00:00 | Published by a Tolley Corporation Tax expert

Updated HMRC guidance on completing a stock transfer form

HMRC has updated its guidance on completing a stock transfer form where the chargeable consideration is calculated by reference to another document.

20 Dec 2021 00:00 | Published by a Tolley Owner-Managed Businesses expert

OTS everyday tax evaluation paper

The Office of Tax Simplification (OTS) has published an evaluation update paper following its reviews ‘Simplifying everyday tax for smaller businesses’ and â€˜Taxation and Life Events: Simplifying tax for individuals’.

17 Dec 2021 00:00 | Published by a Tolley Corporation Tax expert

Draft regulations: derivatives used to hedge foreign exchange risks in share transactions

HMRC has launched a technical consultation on draft regulations which will extend the scope of the ‘Disregard Regulations’ to cover derivative contracts which act as a hedge of a foreign exchange risk in relation to an anticipated future acquisition or disposal of a substantial shareholding.

17 Dec 2021 00:00 | Published by a Tolley Employment Tax expert

Updated CJRS guidance: correcting errors

HMRC has updated its Coronavirus Job Retention Scheme guidance to cover how employers should deal with underpayments to employees that come to light when filing the tax return, and offsetting overclaimed amounts against underclaims for other employees in the same claim period.

17 Dec 2021 00:00 | Published by a Tolley Employment Tax expert

Updated HMRC toolkits (2021)

HMRC has updated its capital gains tax for land and buildings, capital gains tax for shares, income tax losses, capital gains tax for trusts and estates supplementary, trusts and estates, National Insurance contributions and statutory payments, Chargeable gains for companies', Expenses and benefits from employment toolkits for 2020/21 and Property rental toolkit.

16 Dec 2021 00:00 | Published by a Tolley Employment Tax expert

SI 2021/1447 The Double Taxation Relief and International Tax Enforcement (Taiwan) Order 2021

The UK has agreed a protocol to the existing double taxation agreement with Taiwan (SI 2002/3137 (‘the Agreement’)). The protocol is set out in The Double Taxation Relief and International Tax Enforcement (Taiwan) Order 2021, SI 2021/1447.

16 Dec 2021 00:00 | Published by a Tolley Corporation Tax expert

Agent Update: issue 91

HMRC has published Agent Update issue 91 (December 2021) providing a round-up of recent developments for tax agents and advisers.

16 Dec 2021 00:00 | Published by a Tolley Corporation Tax expert

SI 2021/1422 The Van Benefit and Car and Van Fuel Benefit (No. 2) Order 2021

This instrument sets the figures for calculating the cash equivalent of fuel for cars and vans and the benefit of the use of a van for the 2022-23 tax year.

15 Dec 2021 00:00 | Published by a Tolley Employment Tax expert

Finance Bill 2022: government amendments to Schs 2 and 15

The government has proposed amendments to Schedules 2 (qualifying asset holding companies) and 15 (notification of uncertain tax treatment). Government amendments to clause 28 (diverted profits tax) were passed on 1 December.

15 Dec 2021 00:00 | Published by a Tolley Corporation Tax expert

HMRC Self-Assessment repayment claim verification letters

The Chartered Institute of Taxation has shared an update on behalf of HMRC on Income Tax Self-Assessment (ITSA) repayment claim verification letters (‘SURF’ letters).

15 Dec 2021 00:00 | Published by a Tolley Employment Tax expert

Weekly roundup of HMRC manual changes: 13 December 2021

13 Decemebr 2021 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

14 Dec 2021 00:00 | Published by a Tolley Corporation Tax expert

Over 130 jurisdictions comprehensively reviewed in the latest BEPS Action 5 peer review on tax rulings

The OECD Inclusive Framework on BEPS is releasing the 2020 peer review assessments of 131 jurisdictions in relation to the spontaneous exchanges of information on tax rulings on 14 December 2021.

14 Dec 2021 00:00 | Published by a Tolley Owner-Managed Businesses expert

HMRC Stakeholder Digest: 9 December 2021

The CIOT has published the latest HMRC Stakeholder Digest (9 December 2021) which provides a round-up of the latest news and updates.

14 Dec 2021 00:00 | Published by a Tolley Employment Tax expert

OECD releases new transfer pricing profiles for 21 countries

The OECD has released new transfer pricing profiles for 21 countries

13 Dec 2021 00:00 | Published by a Tolley Owner-Managed Businesses expert

HMRC reminds income tax self assessment taxpayers about self-serve time to pay for liabilities under £30,000

The self-serve online facility to agree time to pay for income tax self assessment liabilities of under £30,000 remains available and can be used to spread the payment of tax due by 31 January 2022. This facility is available to all taxpayers who have filed their 2020/21 tax return and plan to pay off the debt within 12 months.

09 Dec 2021 00:00 | Published by a Tolley Employment Tax expert

Scottish Budget 2022-23 - tax implications

The Scottish government delivered its 2022-23 budget on 9 December 2021

09 Dec 2021 00:00 | Published by a Tolley Corporation Tax expert

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