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Latest Owner-Managed Businesses News

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Updated HMRC guidance on signing up for MTD for income tax

HMRC has updated its guidance on signing up for MTD for income tax.

01 Dec 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

Brazil: tax treaties

The text of the 2022 UK-Brazil Double Taxation Convention has been added to the HMRC tax treaties page.

30 Nov 2022 00:00 | Published by a Tolley Corporation Tax expert

SI 2022/1243 The Income Tax (Pay As You Earn) (Amendment) Regulations 2022

The Regulations specify the information an employee must provide to HMRC to evidence their entitlement to tax relief in relation to certain allowable expenses.

30 Nov 2022 00:00 | Published by a Tolley Employment Tax expert

Pension schemes newsletter 145: November 2022

HMRC has published pension schemes newsletter 145.

30 Nov 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC Stakeholder Digest : 24 November 2022

HMRC’s Stakeholder Digest (24 November 2022) provides a round-up of recent news and updates.

28 Nov 2022 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 28 November 2022

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

28 Nov 2022 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Company cars: advisory fuel rates from 1 December 2022

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

28 Nov 2022 00:00 | Published by a Tolley Corporation Tax expert

Unique Taxpayer References (UTRs) and the HMRC app

The ATT has shared an update from HMRC on Unique Taxpayer References (UTRs) and the HMRC app.

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

Consultation outcome Draft regulations: Mandatory Disclosure Rules

HMRC has published its response to the consultation on the implementation of the Organisation for Economic Co-operation and Development (OECD) Mandatory Disclosure Rules for CRS (Common Reporting Standard) Avoidance Arrangements and Opaque Offshore Structures. This consultation ran from 30 November 2021 to 8 February 2022.

24 Nov 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

SI 2022/1223 The Financial Services (Miscellaneous Amendments) Regulations 2022

These Regulations address deficiencies in retained EU law arising from the withdrawal of the United Kingdom from the European Union. They ensure that HM Treasury and the Financial Conduct Authority (“FCAâ€) can apply their powers under certain Regulations to Gibraltarian firms in the UK financial services market.

24 Nov 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

Updated HMRC guidance on social security contributions for workers coming to the UK from the EU, Iceland, Liechtenstein, Norway, or Switzerland

HMRC has updated its guidance on social security contributions regarding those working on board a vessel at sea.

24 Nov 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

Treasury publishes Autumn Finance Bill 2022

On 22 November 2022, HM Treasury published the Autumn Finance Bill 2022 legislating for key tax changes announced by the Chancellor at the Autumn Statement 2022 on 17 November 2022.

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

HMRC publishes tax information and impact notes

HMRC has published several tax information and impact notes (TIINs).

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

CIOT comments on Levelling up and Regeneration Bill

The CIOT has published its comments to the Public Bill Committee on the Levelling up and Regeneration Bill.

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

Weekly roundup of HMRC manual changes: 21 November 2022

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

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

CC/FS68: Compliance checks: electronic sales suppression

HMRC has published a new factsheet about the penalties HMRC may charge if taxpayers are involved in electronic sales suppression (ESS).

18 Nov 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

Update on the closure of the Office of Tax Simplification

The Office of Tax Simplification (OTS) has announced that its formal closure will take effect when the Spring Finance Bill 2023 receives Royal Assent.

18 Nov 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC consults on administrative processes regarding option to tax notifications

We understand that HMRC is undertaking a consultation with members of the Land & Property Liaison Group regarding proposed changes to the processing of notifications of options to tax land and buildings.

17 Nov 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

Autumn Statement 2022 brings forward tax increases

Chancellor Jeremy Hunt delivered his Autumn Statement 2022 on 17 November 2022, setting out proposals to address a £55bn gap in the UK’s finances, with half of that amount being raised through increased taxation.

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

SI 2022/1185 The Stamp Duty Land Tax (Service of Documents) Regulations 2022

These Regulations provide that HMRC may deliver and serve documents or notices to either a company’s registered office or the address provided on a land transaction return. These Regulations come into force on 6 December 2022.

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

Popular Articles

Class 1 v Class 1A

Class 1 v Class 1AClass 1 and Class 1AClass 1 and Class 1A are the categories of NIC that can be charged on expenses reimbursed and benefits provided to employees. These classes are mutually exclusive. A benefit cannot be subject to both Class 1 and Class 1A NIC. Three requirements must be met

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Long service awards

Long service awardsEmployee recognition by an employer can be an important motivational tool, as well as having a positive effect on retention. Most employer awards made to an employee are treated as taxable earnings under ITEPA 2003, s 62 or as a benefit under ITEPA 2003, s 201 because they are

14 Jul 2020 12:11 | Produced by Tolley Read more Read more

Corrections and amendments to the IHT account

Corrections and amendments to the IHT accountThis guidance note explains how to deal with changes to the taxable values in the original inheritance tax account.Why do amendments arise?When the IHT account is first submitted to HMRC, it is based on information available at an early stage of the

14 Jul 2020 11:20 | Produced by Tolley Read more Read more