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Employment Related Securities Bulletin 44

HMRC has published Employment Related Securities (ERS) Bulletin 44.

14 Jul 2022 00:00 | Published by a Tolley Employment Tax expert

Plastic Packaging Tax – First returns and payments due on 29 July 2022

HMRC has issued a reminder that the first Plastic Packaging Tax returns and payments are due by 29 July 2022.

13 Jul 2022 00:00 | Published by a

European Commission consults on proposals to address enablers of tax evasion and aggressive tax planning

The European Commission has launched a consultation on options  to address the role of enablers who contribute to tax evasion and aggressive tax planning.

13 Jul 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

SI 2022/782 The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) (No 2) Regulations 2022

These Regulations provide a new list of high-risk third countries in relation to which enhanced due diligence requirements apply under the principal Money Laundering Regulations.

13 Jul 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC Stakeholder Digest: 6 July 2022

HMRC’s latest Stakeholder Digest provides a round-up of the latest news and updates including information on Finance Bill 2023, PAYE tax refund using the HMRC app and tax-free childcare.

12 Jul 2022 00:00 | Published by a Tolley Employment Tax expert

CIOT response: potential reforms to UK’s capital allowance regime

The CIOT has responded to the HM Treasury’s review of potential reforms to UK's capital allowance regime.

12 Jul 2022 00:00 | Published by a Tolley Corporation Tax expert

Updated HMRC guidance on disclosure of tax avoidance schemes

HMRC has updated its disclosure of tax avoidance schemes (DOTAS) and the disclosure of tax avoidance schemes: VAT and other indirect taxes, (DASVOIT) guidance.

11 Jul 2022 00:00 | Published by a Tolley Corporation Tax expert

OECD sets out ‘more realistic’ timetable for Pillar One

The OECD Secretary-General’s Tax Report to G20 finance ministers sets out a revised and ‘more realistic’ timetable for Pillar One, with a signing ceremony envisaged in the first half of 2023 for a multilateral convention to implement Amount A, with entry into force in 2024.

11 Jul 2022 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 11 July 2022

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

11 Jul 2022 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC post-Brexit import, export and customs guidance: 11 July 2022

HMRC has updated its import, export and customs guidance to reflect the post-Brexit regime. The update covers the period from 4 July 2022 to 11 July 2022.

11 Jul 2022 00:00 | Published by a

Tax news roundup: 11 July 2022

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.

11 Jul 2022 00:00 | Published by a

SI 2022/770 The Corporate Interest Restriction (Electronic Communications) Regulations 2022

These Regulations require certain notices and returns relating to the corporate interest restriction to be sent to HMRC via an approved means of electronic communication.

08 Jul 2022 00:00 | Published by a Tolley Corporation Tax expert

Energy (Oil and Gas) Profits Levy Bill published

HMRC has published the Energy (Oil and Gas) Profits Levy Bill, incorporating minor changes following a short period of consultation.

08 Jul 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC Stakeholder Digest: 23 June 2022

HMRC’s latest Digest provides a round-up of recent news including the latest tax gap data, the end of CHIEF for imports, HMRC’s tax repayment agent consultation, and the new corporate interest restriction working group.

06 Jul 2022 00:00 | Published by a Tolley Corporation Tax expert

Draft Finance Bill clauses to be published on 20 July 2022

The UK government intends to publish draft legislation for Finance Bill 2023 on 20 July 2022.

06 Jul 2022 00:00 | Published by a Tolley Corporation Tax expert

Class 1 NICs primary threshold increases from 6 July 2022

The primary threshold for Class 1 NICs increased to £12,570 on 6 July 2022, bringing the threshold into line with the income tax personal allowance.

06 Jul 2022 00:00 | Published by a Tolley Employment Tax expert

CIOT submission : Land Remediation Relief

The CIOT has made a proactive submission on land remediation relief focusing on one aspect of the LRR derelict land remediation scheme: the qualifying date of 1 April 1998 for land in a derelict state.

06 Jul 2022 00:00 | Published by a Tolley Corporation Tax expert

Treasury consults on narrowing scope of sovereign immunity from direct taxation

In a new consultation, the UK government proposes to codify and narrow the tax exemption for foreign sovereign persons, limiting exemption to investment income only and potentially bringing income from other activities within the scope of UK taxation.

05 Jul 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC consults on taxation of decentralised finance involving cryptoassets

HMRC has launched a consultation on potential options for reform of the tax treatment of cryptoasset loans and ‘staking’ in the context of decentralised finance. The consultation runs until 31 August 2022.

05 Jul 2022 00:00 | Published by a Tolley Corporation Tax expert

SI 2022/754 The Taxation of Chargeable Gains (Gilt-edged Securities) Order 2022

This Order provides that the ten specified securities are 'gilt-edged securities' and therefore gains on their disposal are not chargeable gains for the purposes of capital gains tax or corporation tax on chargeable gains.

05 Jul 2022 00:00 | Published by a Tolley Corporation Tax expert

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Tax on UK resident beneficiaries of non-resident trusts ― overview

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Corporate interest restriction ― administrative aspects

Corporate interest restriction ― administrative aspectsThe corporate interest restriction (CIR) regime has some specific administrative rules in addition to the general administrative requirements for corporation tax returns. This guidance note does not include commentary on provisions that are

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Exemption ― overview ― items exempt from VAT in the UK

Exemption ― overview ― items exempt from VAT in the UKVAT exemption: list of supplies exempt from UK VATThe goods or services that are exempt from VAT are listed under various group headings within VATA 1994, Sch 9, Pt II.It is important to remember that not all supplies that come within a heading

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