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HMRC publishes updated CGT and VAT toolkits (2022)

HMRC has updated its capital gains tax (CGT) for trusts and estates supplementary toolkit and its VAT input tax toolkit.

29 Jun 2022 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Tax news roundup: 27 June 2022

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.

27 Jun 2022 00:00 | Published by a

Weekly roundup of HMRC manual changes: 27 June 2022

27 June 2022 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

27 Jun 2022 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC post-Brexit import, export and customs guidance: 27 June 2022

HMRC has updated its import, export and customs guidance to reflect the post-Brexit regime. The update covers the period from 20 June 2022 to 27 June 2022.

27 Jun 2022 00:00 | Published by a

Technical consultation: The Stamp Duty Land Tax (Service of Documents) Regulations 2022

HMRC has launched a technical consultation seeking views on draft regulations that would allow documents to be served at a company’s registered address and the address provided on the Stamp Duty Land Tax (SDLT) return. The consultation runs until 22 July 2022.

24 Jun 2022 00:00 | Published by a Tolley Corporation Tax expert

SI 2022/690 The Research and Development (Qualifying Bodies) (Tax) (Amendment and Further Prescribed Bodies) Order 2022

This Order removes the Lomonosov Moscow State University from the list of qualifying bodies, payments to which are eligible for research and development (R&D) tax credits and reliefs.

23 Jun 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC launches consultation on raising standards in the tax advice market

HMRC has launched a consultation seeking views on proposed measures to address consumer protection issues for people who claim tax refunds through repayment agents. The consultation, which is part of the government’s agenda to raise standards in the market for tax advice, closes on 14 September 2022.

22 Jun 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

Energy (Oil and Gas) Profits Levy Bill published in draft

HMRC is consulting on a draft version of the Energy (Oil and Gas) Profits Levy Bill which will introduce the new levy with effect for accounting periods beginning on or after 26 May 2022.

21 Jun 2022 00:00 | Published by a Tolley Corporation Tax expert

The Republic of the Congo joins Global Forum on Transparency and Exchange of Information for Tax Purposes

The Republic of the Congo (hereafter “Congoâ€) has joined the Global Forum on Transparency and Exchange of Information for Tax Purposes.

21 Jun 2022 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC post-Brexit import, export and customs guidance: 20 June 2022

HMRC has updated its import, export and customs guidance to reflect the post-Brexit regime. The update covers the period from 13 June 2022 to 20 June 2022.

21 Jun 2022 00:00 | Published by a

Weekly roundup of HMRC post-Brexit import, export and customs guidance: 20 June 2022

HMRC has updated its import, export and customs guidance to reflect the post-Brexit regime. The update covers the period from 13 June 2022 to 20 June 2022.

21 Jun 2022 00:00 | Published by a

HMRC increases late-payment interest rates

HMRC has increased the interest rates for late payments of tax following the Bank of England’s decision on 16 June 2022 to increase the bank base rate from 1% to 1.25%.

20 Jun 2022 00:00 | Published by a Tolley Corporation Tax expert

New HMRC tool for National Insurance Contributions (NIC) changes

HMRC has launched a new tool that can be used to estimate the impact of the recent NIC changes on employees. This tool is not suitable for the self-employed.

20 Jun 2022 00:00 | Published by a Tolley Employment Tax expert

Tax news roundup: 20 June 2022

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.

20 Jun 2022 00:00 | Published by a

Weekly roundup of HMRC manual changes: 20 June 2022

20 June 2022 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

20 Jun 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC updates guidance on completing the plastic packaging tax return

HMRC has updated its plastic packaging tax return guidance to clarify details that need to be included in the return.

17 Jun 2022 00:00 | Published by a Tolley Value Added Tax expert

ATT says HMRC’s MTD for VAT penalties are outdated and unfair

The Association of Taxation Technicians (ATT) is urging the government to rethink the penalties for non-compliance with MTD for VAT.

17 Jun 2022 00:00 | Published by a Tolley Value Added Tax expert

HMRC to review SAYE scheme bonus rate mechanism

HMRC’s Employment Related Securities Bulletin 43 (June 2022) announces a review of the mechanism for calculating the SAYE bonus rate.

17 Jun 2022 00:00 | Published by a Tolley Personal Tax expert

HMRC updates guidance on voluntarily signing up to MTD for Income Tax

HMRC has updated its Making Tax Digital for Income Tax guidance, to expand the criteria setting out who can sign up on a voluntary basis.

16 Jun 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

Money Laundering regulations: consultation responses

HMRC has published responses to the consultation on draft legislation amending the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations,

16 Jun 2022 00:00 | Published by a Tolley Corporation Tax expert

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Allowable deductions for employee-related expenses

Allowable deductions for employee-related expensesThis guidance note covers the tax treatment of some common types of trading expenditure relating to employees. Some of these are disallowable under general principles, for example the wholly and exclusively test or capital versus revenue expenditure.

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Foreign exchange issues

Foreign exchange issuesOverview of foreign exchange provisionsForeign exchange (FX) movements are generally taxed following the rules applicable to the underlying income, expenditure, asset or liability on which they arise, broadly as follows:Capital assetsOn a realisation basis (ie on disposal)

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Gilts

Gilts‘Gilts’ are securities that are also known by a number of different names (eg gilt-edged securities, Government securities or treasury stock).The Government sells gilts to fund the deficit between public spending and tax receipts. Normally, the Government pays interest to the holder of the gilt

14 Jul 2020 11:48 | Produced by Tolley Read more Read more