Don't miss out on our daily summary of what's happening in the world of accountancy. If you are a member you can change your contact preferences so it is delivered daily to your mailbox.
Displaying 1-10 of 29 results
Check what your tax code means with HMRC’s online tool
- Article
- 28 Jul 2023
HMRC has released a new online tool to help taxpayers understand what their tax code means.
HMRC to remove XI EORI numbers from some businesses
- Article
- 27 Jul 2023
Businesses should act now if they need to keep or restore their XI EORI number to move goods into Northern Ireland.
Enforcement of new R&D requirements deferred until 8 August 2023
- Article
- 26 Jul 2023
New claim notification and additional information requirements will not be enforced until 8 August 2023. These rules were expected to apply from 1 August 2023, but due to delays in Finance Bill timetabling they will now take effect one week later.
Treasury Committee urges wholesale review of tax reliefs
- Article
- 26 Jul 2023
In line with evidence from ICAEW, the House of Commons Treasury Committee has concluded that tax reliefs are adding complexity to the UK tax system and are open to abuse. The committee has called for a systematic review of reliefs, alongside greater consultation on new reliefs and measures to better manage existing reliefs.
Tax news in brief 26 July 2023
- Article
- 25 Jul 2023
Highlights from the broader tax news for the week ending 26 July 2023, including: corporation tax filing for companies in insolvency; relief for foreign taxes in PAYE codes; HMRC guidance on negative earnings; and transfer pricing records regulations.
Charity tax reforms should not overly burden charities, cautions ICAEW
- Article
- 25 Jul 2023
While ICAEW’s Tax Faculty supports HMRC’s efforts to counter the abuse of charity tax rules, any reforms should be proportionate to the issue. Otherwise, the reforms risk deterring volunteer involvement and vital donations to charities.
HMRC’s ‘legislative sandbox’ proposals would be difficult to implement
- Article
- 24 Jul 2023
In its response to a consultation document issued by HMRC, ICAEW’s Tax Faculty highlighted the difficulties such an approach would cause if used to test potential changes to the administration and operation of the UK tax system.
HMRC guidance on digital records and signatures
- Article
- 24 Jul 2023
HMRC confirmed its position on digital records and signatures in Agent Update 110. ICAEW’s Tax Faculty is encouraging HMRC to conduct a wider review of this area.
Taxpayers should prepare to provide more information to HMRC
- Article
- 24 Jul 2023
Draft legislation released on 18 July indicates that business and individual taxpayers will be required to provide more information, from creative sector relief regimes to PAYE reporting, to HMRC in the coming years.
Will income tax be extended to beneficiaries of all pensions?
- Article
- 24 Jul 2023
Policy documents regarding changes to the taxation of pensions were published as part of Legislation Day 2023. This included a suggestion that certain beneficiaries of pensions of members who died under age 75 may become subject to income tax as part of future tax changes.
Displaying 1-10 of 29 results