½Û×ÓÊÓÆµ

Tolley works hard to bring you the most up-to-date tax news straight to your inbox. In a dynamic industry it’s important to know when things change. With Tolley’s Tax News you can always be informed giving your clients the most comprehensive information available.

Latest Tax News

Filter icon Filter by tax area

Consultation outcome: Fundamental review of business rates

HM Treasury has published the outcomes of its consultation on the fundamental review of business rates, the changes the government will pursue and a broad timeline for implementation of those changes.

28 Oct 2021 00:00 | Published by a Tolley Corporation Tax expert

Consultation: The new alcohol duty system

HM Treasury has launched a consultation on the new alcohol duty system including overall proposals and some specific points of policy where the government are looking for further input. The consultation closes on 18 November 2022.

28 Oct 2021 00:00 | Published by a Tolley Value Added Tax expert

CIOT response: Scotland's framework for tax and tax policy in relation to the Scottish Budget 2022-23

The Chartered Institute of Taxation (CIOT) and Low Incomes Tax Reform Group (LITRG) have published a response to the Scottish Government's consultation 'Tax Policy and the Budget - a framework for tax'.

27 Oct 2021 00:00 | Published by a Tolley Corporation Tax expert

Autumn Budget 2021 summary

A summary of the main tax measures announced at the Autumn Budget on 27 October 2021.

27 Oct 2021 00:00 | Published by a Tolley Corporation Tax expert

CIOT response to Draft Finance Bill 2021-22 inquiry

The CIOT has published a response to the House of Lords Economic Affairs Finance Bill Sub-Committee inquiry into the Draft Finance Bill 2021-22 that includes proposals for income tax basis period reform and the notification by large businesses of uncertain tax treatment.

26 Oct 2021 00:00 | Published by a Tolley Owner-Managed Businesses expert

SI 2021/1165 The Value Added Tax (Distance Selling and Miscellaneous Amendments No. 2) Regulations 2021

These Regulations amend the VATA, as amended by the FA 2021, which implemented two VAT simplified accounting schemes (One Stop Shop ((OSS)) and Import One Stop Shop ((IOSS)). These schemes are part of the EU e-commerce package that the UK implemented from 1 July 2021 as part of the NI Protocol. These Regulations come into force on 1 December 2021 alongside the Value Added Tax (Distance Selling and Miscellaneous Amendments) Regulations 2021, SI 2021/1164.

26 Oct 2021 00:00 | Published by a Tolley Value Added Tax expert

Mexico and Rwanda join regional initiatives for tax transparency

Mexico and Rwanda have joined the Punta del Este Declaration and Yaoundé Declaration respectively, the regional initiatives for tax transparency and exchange of information for tax purposes.

26 Oct 2021 00:00 | Published by a Tolley Owner-Managed Businesses expert

HMRC Stakeholder Digest: 19 October 2021

The Chartered Institute of Taxation (CIOT) has published an HMRC Stakeholder Digest (19 October 2021) providing a round-up of the latest news and updates for members, and their customers and clients.

25 Oct 2021 00:00 | Published by a Tolley Employment Tax expert

Tax news roundup: 25 October 2021

In the ever-fast-moving world of tax announcements and developments, this news pulls together some of the key changes announced this week. Our commentary will be updated in due course to reflect these latest developments.

25 Oct 2021 00:00 | Published by a

Weekly roundup of HMRC post-Brexit import, export and customs guidance: 25 October 2021

HMRC has updated its import, export and customs guidance to reflect the post Brexit regime. The update covers the period from 18 October 2021 to 25 October 2021.

25 Oct 2021 00:00 | Published by a

Weekly roundup of HMRC manual changes: 25 October 2021

25 October 2021 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

25 Oct 2021 00:00 | Published by a Tolley Corporation Tax expert

Draft regulations: tax conditionality for the hidden economy

HMRC has launched a consultation seeking the public’s views on the draft regulations to complete the legislation introducing new tax checks on licence renewal applications in England and Wales.

22 Oct 2021 00:00 | Published by a Tolley Owner-Managed Businesses expert

UK agrees transition toward new global tax system

The UK has agreed a route forward to transition away from its Digital Services Tax (DST) towards a new global tax system that will ensure multinationals pay their fair share in the countries where they do business.

22 Oct 2021 00:00 | Published by a Tolley Owner-Managed Businesses expert

CIOT response: Reporting rules for digital platforms

The Chartered Institute of Taxation (CIOT) has responded to HMRC’s consultation on the implementation of the OECD Model Reporting Rules, which require digital platforms to report details of the income of sellers on their platform to the tax authority where the platform is resident, incorporated or managed, and also to the sellers.

22 Oct 2021 00:00 | Published by a Tolley Corporation Tax expert

Deadline for updates to trusts’ details on the Trust Registration Service

The Chartered Institute of Taxation (CIOT) has shared an update from HMRC regarding the current 30-day deadline for updates to trusts’ details on the Trust Registration Service (TRS).

21 Oct 2021 18:30 | Published by a Tolley Trusts and Inheritance Tax expert

SI 2021/1167 The Inheritance Tax (Delivery of Accounts) (Excepted Estates) (Amendment) Regulations 2021

These Regulations extend a number of the limits for qualifying excepted estates so that from 1 January 2022 over 90% of non-taxpaying estates will not have to deliver IHT accounts to HMRC before a grant of representation (or confirmation in Scotland) is made.

21 Oct 2021 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Health and Social Care Levy Act: Royal Assent

The

21 Oct 2021 00:00 | Published by a Tolley Owner-Managed Businesses expert

Platform for Collaboration on Tax reports progress on efforts to support developing countries

The Platform for Collaboration on Tax (PCT) has published a new progress report on its work to support developing countries during the Covid-19 pandemic.

21 Oct 2021 00:00 | Published by a Tolley Owner-Managed Businesses expert

Update on Finance Bill 2021-22

In a written statement to Parliament, Lucy Frazer MP, financial secretary to the Treasury, has confirmed that the Finance Bill 2021–22 will be published on 4 November 2021.

20 Oct 2021 00:00 | Published by a Tolley Corporation Tax expert

Net Zero Review Final Report: Fiscal impact

HM Treasury has published its final report following the Net Zero Review as part of its Net Zero strategy. The report considers, amongst a wide range of other policy issues, the material fiscal consequences of the strategy.

20 Oct 2021 00:00 | Published by a Tolley Corporation Tax expert

Popular Articles

Enterprise investment scheme tax relief

Enterprise investment scheme tax reliefOverview of EIS tax reliefsThe enterprise investment scheme (EIS) offers significant tax reliefs to encourage individuals to invest money in qualifying shares issued by qualifying unquoted companies. The scheme is designed to encourage investment in small,

14 Jul 2020 11:36 | Produced by Tolley Read more Read more

Residential property and capital allowances

Residential property and capital allowancesResidential property ― plant and machinery allowancesOrdinary residential property does not, and never has, qualified for capital allowances. as CAA 2001, s 35 denies plant allowances for expenditure incurred in providing plant or machinery for use in a

14 Jul 2020 17:14 | Produced by Tolley in association with Martin Wilson and Steven Bone Read more Read more

Bare trusts ― income tax and CGT

Bare trusts ― income tax and CGTThis guidance note explains how trustees of bare trusts are treated for income tax and capital gains purposes. Although a bare trust is, in equity, a type of trust, for both income tax and capital gains tax purposes its existence is transparent. This means that no tax

14 Jul 2020 15:34 | Produced by Tolley Read more Read more