ÀÏ˾»úÎçÒ¹¸£Àû

Tax News

Treasury Minutes: May 2022 - Government response on HMRC’s management of tax debt

Published on: 17 May 2022
Published by a

Specialist Tax Regulatory Materials

Article summary

In the Treasury minutes published on 16 May 2022, the government has responded, among other things, to the Public Accounts Committee (PAC) report from session 2021–2022 on HMRC’s management of tax debt.

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Popular Articles

Self assessment ― amendments and corrections

Self assessment ― amendments and correctionsOnce a self assessment tax return has been filed, both HMRC and the taxpayer (or the agent) has the right to make changes to the return. There are different time limits depending on whether it is a correction by HMRC or an amendment made by the

14 Jul 2020 13:37 | Produced by Tolley Read more Read more

First year allowances

First year allowancesFirst year allowances (FYAs) are available on the following items:•first-year relief on qualifying new main rate plant and machinery (at 100%, which is described by HMRC as ‘full expensing’) and special rate assets (at 50%) from 1 April 2023 (companies only). These FYAs were

14 Jul 2020 11:41 | Produced by Tolley Read more Read more

Gilts

Gilts‘Gilts’ are securities that are also known by a number of different names (eg gilt-edged securities, Government securities or treasury stock).The Government sells gilts to fund the deficit between public spending and tax receipts. Normally, the Government pays interest to the holder of the gilt

14 Jul 2020 11:48 | Produced by Tolley Read more Read more