NEWS

HMRC have published new Guidelines for Compliance for employers reporting their Apprenticeship Levy liability and claiming Employment Allowance. Help with the Apprenticeship Levy and Employment Allowance connected entities GfC10 is...

HMRC have published new Guidelines for Compliance Help with Patent Box computations GfC9 for qualifying companies who have elected into the patent box tax regime. The guidelines include recommended information to include with a patent box...

HMRC have revised their guidance on using the basis period reform calculator to work out transition profit. On 31 October 2024, the guidance had been updated to advise that the transition profit calculator could not be used if the business was a...

HMRC have updated their guidance on making a disclosure of otherwise undisclosed income under the Let Property Campaign. Sections 1 and 2 of the guidance have been revised to provide further detail around who is affected by the campaign and how to...

HMRC have published new guidance on abolition of the furnished holiday lettings tax regime from April 2025. The guidance provides ‘clarification’ on some of the common issues that had been raised during the consultation on the draft legislation which...

Bonus rates for Save As You Earn (SAYE) schemes have been adjusted, following the cut to the Bank of England base rate to 4.75%. For SAYE contracts taken out on or after 22 November 2024, the bonus rate for five-year contracts is reduced to 2.7%...

HMRC’s latest Pension Schemes Newsletter (October 2024) summarises the following announcements made at Autumn Budget 2024 relevant to pensions taxation: extending inheritance tax to pension death benefits: unused pension funds and death benefits...

The Treasury has issued the following two Orders, both of which come into force on 3 December 2024, enabling two named public bodies to claim refunds of VAT on their non-business activities:the Value Added Tax (Refund of Tax to the East Midlands...

The Economic Crime and Corporate Transparency Act 2023 (Commencement No 3) Regulations, SI 2024/1108, bring ss 199–206 of, and Sch 13 to, the Act fully into force across the UK on 1 September 2025. These provisions include the new offence of failing...

HMRC are to update their interest rates for late payments and overpayments of most taxes, following the recent Bank of England decision to reduce the base rate to 4.75%. Based on the existing method for calculating the HMRC rates (as provided by SI...