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Displaying 1-10 of 35 results
UK international tax legislation to be reformed
- Article
- 29 Jun 2023
The UK government is seeking views on reforming the UK rules on transfer pricing, permanent establishments, and diverted profits tax.
HMRC sends pillar two educational letters to large businesses
- Article
- 28 Jun 2023
HMRC has started sending letters to large businesses who it believes may be within the scope of the UK’s new multinational top-up tax (MTT) and domestic top-up tax (DTT). The letters are intended to educate businesses about the new rules being introduced and allow them to clarify any issues in advance with HMRC.
Estimated tax gap figure remains in line with previous year
- Article
- 28 Jun 2023
HMRC’s released figures estimate that the tax gap has held steady at 4.8% in percentage terms. In real terms, though, the tax gap increased to £36bn, an increase of £5bn from the previous year. ICAEW’s Tax Faculty looks at the key figures.
ICAEW responds to consultation on tougher sanctions for tax avoidance promoters
- Article
- 27 Jun 2023
HMRC’s proposals would allow a criminal offence to be applied where promoters continue to promote a scheme after a stop notice has been issued, and directors to be disqualified in some situations.
Adjudicator's report reflects concerns over HMRC’s service performance
- Article
- 27 Jun 2023
The Adjudicator’s annual report highlights that HMRC’s complaints handling performance has not fully recovered post pandemic. A large number of complaints are raised prematurely by those who have been unable to successfully navigate HMRC’s internal complaints system.
ICAEW supports measures to address carbon leakage risk
- Article
- 27 Jun 2023
ICAEW’s response focuses on reducing the potential administrative burdens associated with introducing a carbon border adjustment mechanism and mandatory product standards.
ICAEW supports modernising stamp taxes on shares
- Article
- 27 Jun 2023
HMRC’s consultation follows an earlier call for evidence and considers proposals to modernise stamp taxes on shares. This includes whether to have a single tax on securities, rather than the current stamp duty and stamp duty reserve tax regimes.
ICAEW considers proposed taxation framework for decentralised finance
- Article
- 27 Jun 2023
The Tax Faculty supports implementing a regime for taxation of decentralised finance (DeFi) involving the lending and staking of cryptoassets. However, it is vital that any regime is simple for individual investors to understand and abide by.
HMRC interest rates to increase in July
- Article
- 27 Jun 2023
Following the Monetary Policy Committee decision to increase the Bank of England base rate to 5%, HMRC has announced increases to both the interest charged on late paid tax and the rate paid on repayments of tax.
Tax news in brief 21 June 2023
- Article
- 20 Jun 2023
Highlights from the broader tax news for the week ending 21 June 2023, including: employer updates; income record viewer video; deadline to create agent services account for repayment claims; raising awareness of tax avoidance schemes; corporate interest restriction reporting companies; and interactive guidance and gform for self-employed taxpayers working abroad.
Displaying 1-10 of 35 results