Displaying 1-22 of 22 results
HMRC Insolvency Bulletin: VAT Insolvency Only Mailbox
- Jun 2024
- PDF (128kb)
Please read HMRC's reminder for insolvency practitioners (IPs) that the VAT Insolvency Only mailbox (vatinsolvencyonly@hmrc.gov.uk) is automated. You must only choose one of the provided options in the subject field. No other characters or amendments are viable. By ensuring the correct details are used, it enables HMRC to deal with correspondence as quickly as possible.
Process for directors’ loan accounts written off in corporate insolvency procedures – update
- Apr 2024
- PDF (120kb)
On 22 September 2022, HMRC initiated a new voluntary process for insolvency practitioners to help HMRC to manage the tax impacts of directors’ loan accounts (DLAs). The process was published by insolvency regulators and is also set out at Dear IP chapter 8 .46.
Recording tax and National Insurance for former employees on an insolvent entity
- Jan 2024
- PDF (125kb)
Follow HMRC’s process outlined in its recent insolvency guidance when practitioners need to record tax and National Insurance due on a dividend paid to the former employees of an insolvent entity. By setting up a new Employment Protection Act (EPA) PAYE Scheme, along with the Accounts Office reference number, it will help ensure these payments are allocated correctly.
Tax returns and payments in administrations
- Jan 2024
- PDF (116kb)
Access HMRC's latest insolvency guidance with information about tax returns and payments in administrations and what process to follow relating to how tax may arise during the period of administration as a result of an administrator's actions. These expenses rank for payment ahead of any remuneration payable to the administrator.
VAT deregistration mailbox changes
- Jan 2024
- PDF (62kb)
Access the latest Insolvency Guidance bulletin from HMRC. On 15 January, HMRC will discontinue its dedicated mailbox service for insolvency practitioners (IPs) to request VAT deregistration confirmation. Instead, IPs will receive a VRT23 letter within 40 days of submission of the VAT 7 form. Please call the VAT helpline if the letter isn’t received within 40 days from 15 January.
Introduction of digital journey for plastic packaging tax in the event of insolvency
- Dec 2023
- PDF (70kb)
HMRC is streamlining the way it deals with insolvency in relation to Plastic Packaging Tax. It has introduced a digital G-Form which can be used to notify HMRC of an Insolvency Event, submit Plastic Packaging Tax Returns and de-register from Plastic Packaging Tax. Please use this process going forward.
Cessation of tax clearance in Members’ Voluntary Liquidations
- Dec 2023
- PDF (128kb)
Access the latest Insolvency Guidance bulletin from HMRC. As of 6 December 2023, HMRC will no longer provide pre and/or post-tax clearances in Members’ Voluntary Liquidation (MVL) cases. Insolvency practitioners should now close cases without tax clearance, subject to their professional judgement. This means any requests from insolvency practitioners for clearance already received will not be responded to, and any future requests will not be actioned. This will include requests covering all heads of duty and will also cover all insolvency types.
Insolvency VAT Helplines Survey
- Oct 2023
- PDF (151kb)
HMRC will review the findings of the survey to assess the VAT Helpline’s effectiveness and consider where we can make improvements. Survey is open until 1 December 2023. Be sure to give your input.
Submission of P11D - what is changing
- Aug 2023
- PDF (63kb)
HMRC’s latest Insolvency Bulletin announces changes to the way employers should report expenses and benefits provided to employees during the tax year ending 5 April 2023 in the February 2023 Employer Bulletin and again in the April 2023 Employer Bulletin. The change, which will apply for that tax year and future tax years, means HMRC will no longer accept paper P11D and P11D(b) forms, this includes lists. This change is for both original submissions and for amendments.
Filing of Company Tax Returns
- Jul 2023
- PDF (164kb)
HMRC introduced the latest version of the Company Tax Return (CT600) form in 2015 with Version 3. However, they are still receiving earlier versions of the return which are no longer valid. Please be sure you are using the most current form and submitting online to help expedite processing times. Please read the bulletin for further details.
HMRC deregistration mailbox confirmed
- May 2023
- PDF (170kb)
HMRC will keep its dedicated mailbox for insolvency practitioners to request VAT deregistration confirmation. After trialling the service, HMRC has decided it helps to reduce repeat calls into HMRC, saving costs and time, and helps to close cases more quickly.
HMRC bulletin: improvements to form VAT7
- May 2023
- PDF (90kb)
Read HMRC's latest update on form VAT7: Application to cancel your VAT registration. The questions have been amended to reflect feedback from IPs.
Completing and submitting the VAT100 (2021)
- Feb 2023
- PDF (247kb)
HMRC has introduced a new style VAT100 (2021) and a fully automated process which means returns can be automatically scanned. Please ensure you are only using the new versions of the VAT100 and that the barcode is not altered or deleted. Find out more and access FAQs.
VAT deregistration requests
- Jan 2023
- PDF (130kb)
HMRC is trialling a dedicated mailbox for insolvency practitioners to request VAT deregistration confirmation.
Find out more about the trial.
Process for DLAs written off as part of corporate insolvency procedures
- Sep 2022
- PDF (160kb)
HMRC has designed a new voluntary process to allow a more data driven and targeted approach to the issue of Director’s Loan Accounts (DLAs). This specifically applies in situations where DLAs are written off as part of a corporate insolvency procedure because the debtor cannot afford to repay the loan to the company.
Tax clearance requests in Members Voluntary Liquidations
- Sep 2022
- PDF (150kb)
In our bulletin of 7 September 2022, we told you we’d changed the process for giving tax clearance in MVL cases so that all requests for Corporation Tax (CT), Pay as You Earn (PAYE) and Value Added Tax (VAT) could be emailed to our EIS MVL Team
HMRC update
- Jul 2022
- PDF (114kb)
HMRC will now be more proactive in the use of voting rights and vote on voluntary arrangements. Read the update to find out more about the effect on Voluntary Arrangement proposals. There are also two important updates on HMRC Dropbox and Members' Voluntary Liquidations clearances.
Please help us to help you – VAT returns (VAT100)
- Jun 2022
- PDF (588kb)
Find out how best to submit VAT returns so they are processed efficiently, including how to submit them using HMRC’s new IT system.
Insolvency Customer Services mailbox
- May 2022
- PDF (150kb)
Due to a significant increase in case queries, there are currently delays to response times. Read the latest advice from HMRC to find out how to help progress your query, including ensuring you have completed the contact form, and what not to do.
Incorrect treatment of an HMRC claim
- Jan 2022
- PDF (111kb)
HMRC continues to see instances where insolvency practitioners incorrectly deny or reduce HMRC’s claim when considering it for voting purposes in a decision procedure, particularly where the insolvent person or others may dispute the amount due to HMRC.
Account Manager for insolvency related Customs queries
- Dec 2021
- PDF (135kb)
As part of HMRC’s work to improve the customer journey for IPs, it is introducing a dedicated Account Manager for insolvency related Customs queries. This guidance has been updated to include some background on Customs, its responsibilities, and a list of the taxes/duties it covers.
Insolvency Practitioner appointments
- Dec 2021
- PDF (141kb)
Updated guidance from HMRC for IPs or their agents seeking appointment in insolvency cases where there are no tax compliance issues or active HMRC investigations.
Displaying 1-22 of 22 results
HMRC guidance archive
The Insolvency and Restructuring body R3 keep an archive of HRMC Insolvency Bulletins in the Technical Library section of their website.