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Certain provisions of the Economic Crime and Corporate Transparency Act 2023 (the Act) relating to civil recovery of cryptoassets in Scotland come into force on 7 November 2024 and the offence of failing to prevent fraud across the UK on 1 September 2025.

HMRC has published new guidance on the furnished holiday lettings tax regime abolition.

HMRC has updated its guidance for partnerships on using the calculator to work out transition profit.

Amendments are made to the Platform Operators (Due Diligence and Reporting Requirements) Regulations 2023, SI 2023/817 to ensure that, where there is a UK platform operator, information about sellers who are resident in the UK must be reported to HMRC. They also remove regulation 10 to remove the proportional reduction of thresholds for reporting in cases where the seller is registered on the platform for only part of a reportable period.

In the ever-fast-moving world of tax announcements and developments, this news pulls together some of the key changes announced this week. Our commentary will be updated in due course to reflect these latest developments.

HMRC has updated its guidance on receiving income tax or PAYE repayments on behalf of others.

HMRC has updated its guidance on working out basis period reform transition profit

HMRC has published three new guidance pages and updated one other on research and development (R&D).

HMRC has published its latest Pension scheme newsletter (October 2024).

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

HMRC has updated its guidance on working out basis period reform transition profit

HMRC has published three new guidance pages and updated one other on research and development (R&D).

HMRC has updated its guidance on receiving income tax or PAYE repayments on behalf of others.

HMRC has published new guidance on how to send VAT Returns when exempt from Making Tax Digital for VAT.

HMRC has published new guidance on applying for statutory clearance.

The Chancellor’s Budget on 30 October 2024 will increase employer NICs, raise the main rates of CGT, initiate reform of the tax treatment of carried interest, and confirmed the replacement of the remittance basis regime and removal of the VAT exemption for private school fees. Some of the smaller announcements were of equal interest, including extending mandation of Making Tax Digital for Income Tax and increasing the HMRC late-payment interest rate.

HMRC has updated the list of services which can be accessed from the business tax account.

Details of updates to HMRC import, export and customs guidance for the period from 22 to 28 October 2024.

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

The CIOT has published its response to the Tribunal Procedure Committee consultation on possible changes to the procedure rules concerning the provision of written reasons for decisions and other case management measures.