Royal Assent to the Finance Act was notified in the House of Lords on 22 February 2024

HMRC has published Agent Update issue 117 (21 February 2024) providing a round-up of recent developments and changes to legislation and allowances relating to UK tax for tax agents and advisers.

HMRC has launched a consultation to welcome views on how a range of topics relating to HMRC鈥檚 enquiry and assessment powers, penalties, and safeguards could be reformed.

Finance Bill 2024 has cleared all House of Commons stages and will next move to the House of Lords. The Lords version of the Bill is now available.

HMRC鈥檚 latest Digest (30 January 2024) provides short updates on various topics, including an enforcement notice on misleading repayment agent adverts and changes to paternity leave and pay from 8 March 2024.

The UK Supreme Court (UKSC) has published a practice note issued by President of the Supreme Court and Chairman of the Judicial Committee, Lord Reed, on 22 January 2024, in respect of the UKSC and Judicial Committee of the Privy Council (JCPC). Lord Reed has noted that the UKSC and JCPC have made substantive changes in the UKSC and JCPC Practice Direction (PD) 3 on applications for permission to appeal; JCPC PD 4 on notice of appeal; UKSC and JCPC PD 6 on the appeal hearing; and UKSC and JCPC PD 7 on applications, documents, forms and order. These changes are effective from 22 January 2024.

These regulations amend regulation 33(3)(a) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations, SI 2017/692 to redefine 鈥淗igh-Risk Third Countries鈥� (鈥淗RTCs鈥�) as those countries identified by the Financial Action Task Force ("FATF鈥�) in the lists the FATF publish from time to time, as 鈥淗igh-Risk Jurisdictions Subject to a Call for Action鈥� and 鈥淛urisdictions Under Increased Monitoring鈥�.

HMRC has published Agent Update issue 116 (17 January 2024) providing a round-up of recent developments and changes to legislation and allowances relating to UK tax for tax agents and advisers.

The CIOT has published Finance Bill 2023-24 briefings on Corporate Taxes, Evasion and Avoidance, and VAT excise.

The government is consulting on the transparency of land ownership when trusts are involved in the ownership structure.

Finance Bill 2024 was published on 29 November 2023.

Autumn Statement 2023 provided a full package of tax measures, many of which had been pre-announced. New items included cuts to both employee and self-employed NICs and permanent 鈥榝ull expensing鈥� for companies.

HMRC has responded to the CIOT鈥檚 comments on the draft Finance Bill 2023-24 legislation on 鈥楧ealing with promoters of tax avoidance鈥�.

The CIOT has made an Autumn Statement 2023 representation on Cryptoassets and their treatment for tax purposes.

A new Practice Direction requires documents to be submitted to the Upper Tribunal electronically via the Tribunal鈥檚 CE-File secure online portal.

HMRC鈥檚 latest Digest provides short updates on basis period reform, registering for VAT and recently announced service changes.

The CIOT has responded to HMRC鈥檚 consultation: 鈥楾axation of Employee Ownership Trusts and Employee Benefit Trusts鈥�.

HMRC has updated its guidance to explain what deposit holders need to do before the Certificate of Tax Deposit (CTD) Scheme closes on 23 November 2023.

These Regulations provide for relief from inheritance tax in relation to the Post Office Horizon Shortfall Scheme and Group Litigation Order compensation payments.

HMRC has published new guidance on its internal procedures for deciding how tax disputes should be resolved, depending on the particular circumstances of a dispute and how much tax is at stake.