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HMRC guidance: when to appeal a late filing or late payment penalty

HMRC has published new guidance on when and how to appeal against a penalty for late filing or late payments.

24 Jan 2024 00:00 | Published by a Tolley Personal Tax expert

SI 2024/71 The Designation of Special Tax Sites (Humber Freeport) Regulations 2024

These Regulations designate areas in Humber as freeport tax site with effect from 13 February 2024.

24 Jan 2024 00:00 | Published by a Tolley Corporation Tax expert

SI 2024/69 The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) Regulations

These regulations amend regulation 33(3)(a) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations, SI 2017/692 to redefine “High-Risk Third Countries” (“HRTCs”) as those countries identified by the Financial Action Task Force ("FATF”) in the lists the FATF publish from time to time, as “High-Risk Jurisdictions Subject to a Call for Action” and “Jurisdictions Under Increased Monitoring”.

23 Jan 2024 00:00 | Published by a Tolley Corporation Tax expert

Weekly Roundup HMRC Manuals: 22 January 2024

22 January 2024 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

22 Jan 2024 00:00 | Published by a Tolley Corporation Tax expert

Agent update: issue 116

HMRC has published Agent Update issue 116 (17 January 2024) providing a round-up of recent developments and changes to legislation and allowances relating to UK tax for tax agents and advisers.

18 Jan 2024 00:00 | Published by a Tolley Corporation Tax expert

National Insurance and Social Security: workers moving between the UK and EU, Gibraltar, Iceland, Liechtenstein, Norway, or Switzerland

HMRC has updated its guidance on National Insurance and social security contributions for workers moving between the UK and EU, Gibraltar, Iceland, Liechtenstein, Norway, or Switzerland.

18 Jan 2024 00:00 | Published by a Tolley Employment Tax expert

Consultation: Tax Simplification for Alternative Finance

The government is consulting on proposals to reform the tax treatment of alternative refinancing arrangements.

17 Jan 2024 00:00 | Published by a Tolley Personal Tax expert

Weekly Roundup HMRC Manuals: 16 January 2024

16 January 2024 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

16 Jan 2024 00:00 | Published by a Tolley Corporation Tax expert

CIOT response: Finance Bill 2023-24

The CIOT has published Finance Bill 2023-24 briefings on Corporate Taxes, Evasion and Avoidance, and VAT excise.

12 Jan 2024 00:00 | Published by a Tolley Corporation Tax expert

CIOT response: Income Tax (Digital Requirements)(Amendment) Regulations 2024

The CIOT has responded to the consultation on the draft legislation on Income Tax (Digital Requirements)(Amendment) Regulations 2024

12 Jan 2024 00:00 | Published by a Tolley Personal Tax expert

HMRC to waive self-assessment penalties for subpostmasters

Subpostmasters who receive top-up payments under the Horizon Shortfall Scheme will not be subject to penalties or interest where those payments are not received ‘in good time’ to file a tax return by the filing deadline.

11 Jan 2024 00:00 | Published by a Tolley Personal Tax expert

Weekly Roundup HMRC Manuals: 8 January 2024

8 January 2024 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

08 Jan 2024 00:00 | Published by a Tolley Corporation Tax expert

Lifetime allowance guidance newsletter — December 2023

HMRC has published a Lifetime allowance newsletter in December 2023 to update stakeholders on the latest news for pension schemes.

21 Dec 2023 00:00 | Published by a Tolley Employment Tax expert

Paper form for CGT on UK Property Disposals

The ATT report that HMRC has decided to continue to make the PPDCGT paper form available to download online.

21 Dec 2023 00:00 | Published by a Tolley Personal Tax expert

Agent update: issue 115

HMRC has published Agent Update issue 115 (20 December 2023) providing a round-up of recent developments and changes to legislation and allowances relating to UK tax for tax agents and advisers.

21 Dec 2023 00:00 | Published by a Tolley Owner-Managed Businesses expert

The Scottish Government publishes 2024-25 Budget

The Scottish Government published its 2024-25 Budget on 19 December 2023.

19 Dec 2023 00:00 | Published by a Tolley Corporation Tax expert

The Welsh Government publishes draft Budget proposals for 2024-25

The Welsh Government published its draft Budget proposals for 2024-25 on 19 December 2023.

19 Dec 2023 00:00 | Published by a Tolley Corporation Tax expert

Weekly Roundup HMRC Manuals: 18 December 2023

18 December 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

18 Dec 2023 00:00 | Published by a Tolley Corporation Tax expert

SI 2023/1381 The Major Sporting Events (Income Tax Exemption) (World Athletics Indoor Championships Glasgow 24) Regulations 2023

These regulations grant an exemption from income tax for certain non-residents attending the World Athletics Indoor Championships in Glasgow in March 2024.

15 Dec 2023 00:00 | Published by a Tolley Personal Tax expert

SI 2023/ 1371 The Money Laundering and Terrorist Financing (Amendment) Regulations 2023

These regulations clarify in law  that domestic politically exposed persons (PEPs should be subject to a lesser extent of enhanced customer due diligence by firms regulated under the money laundering regulations (MLRs) in the absence of other risk factors.

15 Dec 2023 00:00 | Published by a Tolley Corporation Tax expert

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Definition of a close company

Definition of a close companyThe detailed definition of a close company is set out below, but in summary the rules are targeted at those companies where the owners can manipulate the activities of the company to influence their own tax position. Therefore, broadly speaking, in most cases an

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Winding up a trust ― legal, administrative and compliance issues

Winding up a trust ― legal, administrative and compliance issuesOverviewWhen winding up a trust, there are legal formalities and compliance issues that need to be dealt with, as well as IHT and CGT consequences that flow from the termination. This guidance note considers when and how a trust comes

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Interest and penalties on late paid tax under self assessment

Interest and penalties on late paid tax under self assessmentInterestIf the capital gains tax, the balancing payment or payments on account of tax and / or Class 4 national insurance contributions (NIC) are paid late, HMRC will charge interest on the amount overdue from the original due date. The

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