NEWS

HMRC’s Stakeholder Digest (29 November 2024) provides a number of reminders:voluntary NICs deadline, for making up contribution record gaps from 6 April 2006, is 5 April 2025. After that, the usual rules will apply allowing retrospective...

HMRC now expect a 40-working-day turnaround time for applications for an agent services account, or corporation tax or self-assessment agent codes. Previously, applications were expected to take 28 working days....

HMRC have updated the following guidance:Moving goods between Great Britain and the UK Continental Shelf: the form to report UK Continental Shelf imports and exports has now been added. The new form was introduced on 28 November 2024 to simplify the...

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

The CIOT has responded to the draft legislation published at Autumn Budget 2024 which, when enacted, will make changes to the tax regime for employee-ownership trusts (EOTs) with effect from 30 October 2024. The EOTs provisions are set out in Sch 6...

The Land Transaction Tax (Relief for Special Tax Sites) (Wales) Regulations, SI 2024/1193, provide for relief from the Welsh land transaction tax for qualifying transactions of land in designated special tax sites in Wales – broadly mirroring the...

HMRC have issued the latest quarterly update to the company car advisory fuel rates, for journeys on and after 1 December 2024. Rates for all petrol and diesel car bands have been reduced by one penny. Employers may therefore decide to continue to...

Commenting on the Budget proposals to cap agricultural and business property reliefs and the well- publicised debate around the potential affects on the farming industry, the Institute for Fiscal Studies suggests that, if IHT is to exist, it should...

The Aggregates Tax and Devolved Taxes Administration (Scotland) Act 2024 received royal assent on 12 November 2024. The Act introduces the new Scottish aggregates tax which is expected to replace aggregates levy in Scotland from 1 April 2026.Part 1...

HMRC have issued new guidance on paying UK Pillar Two top-up taxes (aimed at multinational companies within the UK’s multinational or domestic top-up taxes rules). The guidance covers payment deadlines and details required in order to make payments....