Specialist Tax Regulatory Materials
HMRC has published its latest Stakeholder Digest (February 2025). This edition includes updates on new campaigns, guidance, and consultations relevant to UK tax practitioners.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Company carsIntroductionCompany cars are one of the most common taxable benefits. The rules for calculating the benefit are complex, and the reporting requirements are more onerous than most benefits. Company cars are covered by very specific legislation. Detailed guidance on each of the following
Payments on account (POA)This guidance note provides and overview of the payments on account regime (POA). More in depth commentary can be found in De Voil Indirect Tax Service V5.110.What are payments on account?VAT registered businesses with an annual VAT liability of more than 拢2.3m are required
Non-trading deficits on loan relationshipsOverview of non-trading deficits (NTDs)When a company鈥檚 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
