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Latest Trusts and Inheritance Tax News

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SI 2023/348 The International Organisations (Tax Exemptions Designation) Order 2023

This Order provides for limited exemptions from income tax, capital gains tax, inheritance tax, stamp duty and stamp duty reserve tax to be given in respect of securities issued by the Caribbean Development Bank, Asian Infrastructure Investment Bank, and Inter-American Investment Corporation, international organisations of which the United Kingdom is a member.

23 Mar 2023 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Updated HMRC guidance on rates and allowances: beneficial loan arrangements

HMRC has updated its guidance on rates of interest on beneficial loan arrangements.

20 Mar 2023 00:00 | Published by a Tolley Employment Tax expert

Spring Budget 2023: new investment allowances and relaxation of pension restrictions

The Chancellor’s Budget on 15 March 2023 included several new announcements, and brought together previously published proposals, many of which will be legislated in the Spring Finance Bill.

15 Mar 2023 00:00 | Published by a Tolley Corporation Tax expert

Updated HMRC guidance on money laundering supervision

HMRC has updated its guidance on helping to prevent money laundering and terrorist financing for a trust or company service provider.

14 Mar 2023 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 13 March 2023

13 March 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

13 Mar 2023 00:00 | Published by a Tolley Corporation Tax expert

HMRC publishes new guidance on Off-payroll working

HMRC has published multiple new guidance notes on Off-payroll working for intermediaries, contractors and clients.

07 Mar 2023 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 27 February 2023

27 February 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

27 Feb 2023 00:00 | Published by a Tolley Corporation Tax expert

Exemption for Postmaster compensation payments

Regulations have been laid to exempt certain compensation payments to Postmasters from tax.

24 Feb 2023 00:00 | Published by a Tolley Employment Tax expert

Weekly roundup of HMRC manual changes: 20 February 2023

20 February 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

20 Feb 2023 00:00 | Published by a Tolley Employment Tax expert

CIOT urges the Government to review “unfair†repayment interest rates

The CIOT urges the Government to review “unfair†repayment interest rates, with taxpayers facing late payment bills from HMRC up to 17 times higher than what is returned to those who have overpaid.

09 Feb 2023 18:30 | Published by a Tolley Corporation Tax expert

HMRC new Litigation and Settlement Strategy Manual

HMRC has published a new manual on its Litigation and Settlement Strategy.

09 Feb 2023 00:00 | Published by a Tolley Corporation Tax expert

SI 2023/113 The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations

These Regulations make modifications for the purposes of applying the correct tax treatment to public service pension schemes which are affected by the rectification of discrimination provisions contained in the Public Service Pensions and Judicial Offices Act 2022.

07 Feb 2023 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Weekly roundup of HMRC manual changes: 6 February 2023

6 February 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

06 Feb 2023 00:00 | Published by a Tolley Corporation Tax expert

HMRC late payment interest rates following Bank of England decision

HMRC is increasing the late payment rate of interest to 6.5%, and the repayment interest rate to 3% from 21 February 2023. Interest on quarterly instalment payments of corporation tax is also increased from 13 February 2023.

06 Feb 2023 00:00 | Published by a Tolley Corporation Tax expert

HMRC internal manual Alternative Dispute Resolution Guidance

HMRC has published a new manual on Alternative Dispute Resolution.

03 Feb 2023 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 30 January 2023

30 January 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

30 Jan 2023 00:00 | Published by a Tolley Corporation Tax expert

HMRC Stakeholder Digest: 26 January 2023

HMRC’s Stakeholder Digest (26 January 2023) provides a round-up of recent news and updates.

27 Jan 2023 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 23 January 2023

23 January 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

23 Jan 2023 00:00 | Published by a Tolley Corporation Tax expert

HMRC guidance on penalty charge for not registering or maintaining a trust

HMRC has published new guidance on the penalty charge for failure to register or maintain trust details.

23 Jan 2023 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Weekly roundup of HMRC manual changes: 16 January 2023

16 January 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

16 Jan 2023 00:00 | Published by a Tolley Corporation Tax expert

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What are connected companies for loan relationship purposes ― practical approach

What are connected companies for loan relationship purposes ― practical approachBrief overview of the rulesThe loan relationships legislation applies to any ‘money debt’ arising from the lending of money entered into by a company, either as a lender or borrower. The rules are contained in CTA 2009,

20 Apr 2021 16:00 | Produced by Tolley Read more Read more

Ministers of religion

Ministers of religionMost ministers of religion or members of the clergy are either office-holders or employees and so their earnings are taxable under ITEPA 2003 as employment income and are subject to Class 1 National Insurance.For the purposes of the tax system, a minister does not have to belong

14 Jul 2020 12:14 | Produced by Tolley Read more Read more

Maintenance payments

Maintenance paymentsMaintenance payments are payments made by a taxpayer to their former or separated spouse / civil partner for the maintenance of that person or their children. To obtain any tax relief for maintenance payments, one of the couple must have been born before 5 April 1935 and the

14 Jul 2020 12:12 | Produced by Tolley Read more Read more