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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

Making Tax Digital for Income Tax Self-Assessment: joining the pilot

The Chartered Institute of Taxation has shared an update on behalf of HMRC on Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) pilot.

10 Dec 2021 00:00 | Published by a Tolley Employment Tax 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

Employer Bulletin: December 2021

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

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

Weekly roundup of HMRC manual changes: 6 December 2021

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

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

CJRS guidance: correcting underpayments

HMRC has updated its Coronavirus Job Retention Scheme guidance to add a new section on how to top up employees’ wages where businesses have claimed a grant but not paid employees enough, and further information about offsetting overclaimed amounts.

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

SI 2021/1344 The Income Tax (Qualifying Child Care) (Wales) Regulations 2021

These Regulations amend section 318C of ITEPA 2003, which defines “qualifying childcare†for the purposes of exemptions from income tax for employee benefits in respect of certain employer-provided or employer-contracted childcare.

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

HMRC Stakeholder Digest: 30 November 2021

The CIOT has published the latest HMRC Stakeholder Digest (30 November 2021) which provides a round-up of the latest news and updates.

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

SI 2021/1341 The Income Tax (Exemption of Social Security Benefits) Regulations 2021

These Regulations are being made to exempt from tax four new social security payments with retrospective effect from the date of their respective introductions.

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

Tax Administration and Maintenance Day: 30 November 2021

Over 30 documents were published on the inaugural ‘Tax Administration and Maintenance day’ signifying the start of a period of consultation and evaluation. Our summary document details the key announcements.

30 Nov 2021 00:00 | Published by a Tolley Corporation Tax expert

Pension schemes newsletter 135: November 2021

HMRC has published pension schemes newsletter 135, which informs relevant stakeholders of the latest news and updates regarding pension schemes.

30 Nov 2021 00:00 | Published by a Tolley Employment Tax expert

Weekly roundup of HMRC manual changes: 29 November 2021

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

29 Nov 2021 00:00 | Published by a Tolley Corporation Tax expert

CIOT comments: Finance (No.2) Bill 2021 briefings

The CIOT has commented on Finance (No.2) Bill 2021 briefings on - Clauses 7-8 Schedule 1: Basis Period Reform, Clauses 53-66: Economic Crime (Anti- Money Laundering) Levy and Clauses 84-90 Schedule 12: Tackling Tax Avoidance.

25 Nov 2021 00:00 | Published by a Tolley Corporation Tax expert

HMRC Stakeholder Digest: 19 November 2021

The CIOT has published the latest HMRC Stakeholder Digest (19 November 2021) which providing a round-up of the latest news and updates.

25 Nov 2021 00:00 | Published by a Tolley Employment Tax expert

Company cars: advisory fuel rates from 1 December 2021

HMRC has published revised advisory fuel rates for company cars which apply from 1 December 2021.

24 Nov 2021 00:00 | Published by a Tolley Employment Tax expert

HMRC Guidance: risk of tax avoidance working through an umbrella company

HMRC has published two new guidance notes to enable contractors and agency workers working through umbrella companies to check their payslip to make sure they are not involved in a tax avoidance scheme.

19 Nov 2021 00:00 | Published by a Tolley Employment Tax expert

Managing pension schemes service newsletter: November 2021

HMRC has published its Managing Pension Schemes service newsletter for November 2021, updating stakeholders on the latest news for pension schemes.

19 Nov 2021 00:00 | Published by a Tolley Owner-Managed Businesses expert

SI 2021/1286 The Tax Credits and Child Benefit (Miscellaneous Amendments) Regulations 2021

These Regulations amend a number of statutory instruments in relation to tax credits and child benefit. They come into force on 9 December 2021.

19 Nov 2021 00:00 | Published by a Tolley Employment Tax expert

Agent Update: issue 90

HMRC has published Agent Update issue 90 (November 2021) providing a round-up of recent developments for tax agents and advisers.

18 Nov 2021 00:00 | Published by a Tolley Corporation Tax expert

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Loans provided to employees

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Premiums on the grant or surrender of a lease

Premiums on the grant or surrender of a leasePremiums on the grant of a lease ― outlineWhen a property investor grants a lease, potentially this could be done on the basis that the tenant pays a premium for the initial grant of the lease, in addition to also paying rent over the term of the lease.

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Non-trading deficits on loan relationships

Non-trading deficits on loan relationshipsOverview of non-trading deficits (NTDs)When a company’s debits on its non-trading loan relationships and derivative contracts in an accounting period exceed the credits on its non-trading loan relationships and derivative contracts in the same period (the

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