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OECD publishes public comments on draft rules for nexus and revenue sourcing under Pillar One Amount A

The OECD has received responses to the consultation on the draft rules for nexus and revenue sourcing under Pillar One Amount A.

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

CIOT response: business rates review technical consultation

The CIOT has responded to the Department for Levelling Up, Housing and Communities (DLUHC) and HM Treasury’s technical consultation on the business rates review.

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

CIOT response: Stamp Duty Land Tax: Mixed-Property Purchases and Multiple Dwellings Relief

The CIOT has responded to HMRC’s consultation on proposed changes to the Stamp Duty Land Tax rules for mixed-property purchases and multiple dwellings relief which aim to prevent abuse and reduce potential unfairness in mixed-property transactions.

22 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC Note - Purchase of own shares – multiple completion contracts

The CIOT has shared an update from HMRC which clarifies HMRC’s position on the purchase of own shares transactions that are effected by a multiple completion contract.

22 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

OECD consultation on Pillar One

The OECD is seeking public comments on the Draft Rules for Tax Base Determinations under Amount A of Pillar One. The consultation closes on Friday 4 March 2022.

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

Weekly roundup of HMRC manual changes: 21 February 2022

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

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

CIOT response: modernising tax debt collection from non-paying businesses

The Chartered Institute of Taxation (CIOT) has responded to HMRC’s consultation on modernising tax debt collection from non-paying businesses.

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

OECD Secretary-General tax report to G20 Finance ministers

The OECD secretary-general tax report to G20 finance ministers and central bank governors has been published.

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

CIOT response: The draft Social Security Contributions (Freeports) Regulations 2022

The CIOT has responded to HMRC’s consultation on the draft Social Security Contributions (Freeports) Regulations 2022 which will maintain the new NICs relief where an employee’s time spent at a freeport site is limited due to a protected characteristic.

18 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

ATT warns of impact of R&D tax relief plan on small companies

The Association of Taxation Technicians (ATT) is calling for a rethink of the Government’s plan to require companies to notify HMRC in advance that they intend to claim R&D tax reliefs, because the ATT fears it risks denying tax relief to the very smallest and newest companies that need this tax relief the most.

17 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

Agent Update: issue 93

HMRC has published Agent Update issue 93 (February 2022) providing a round-up of recent developments for tax agents and advisers.

17 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

Ground-breaking deal to establish two new Green Freeports in Scotland

The UK and Scottish governments have made a landmark agreement to establish 2 new Green Freeports in Scotland.

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

HMRC guidance for employers on claiming NICs relief for veterans

HMRC has published new guidance that provides information on how and when employers can claim NICs relief on the earnings of qualifying veterans.

15 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

Technical consultation: The Alternative Finance (Income Tax, Capital Gains Tax and Corporation Tax) Order 2022

HMRC has launched a technical consultation seeking views on draft regulations, which will widen the scope of the tax legislation applying to alternative finance arrangements. The consultation runs until 11 March 2022.

14 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC Stakeholder Digest: 10 February 2022

The CIOT has published the latest HMRC Stakeholder Digest (10 February 2022) which provides a round-up of the latest news and updates on Making Tax Digital for VAT, CJRS and umbrella company market.

14 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

Law society response: Draft regulations on mandatory disclosure rules (MDR)

The Law Society has responded to HMRC’s consultation on the draft Mandatory disclosure regulations that would replace DAC 6 and require disclosure of certain arrangements to HMRC.

14 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

Finance Bill 2022: summary of amendments

A House of Lords Library briefing paper summarises all stages in the Finance Bill’s progress through Parliament with details of all agreed amendments, together with the Lords’ Economic Affairs Finance Bill Sub-committee’s views on basis period reform and the new requirement for large businesses to notify uncertain tax treatments to HMRC.

14 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 14 February 2022

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

14 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

Consultation response: Review of the UK funds regime

HM Treasury has published a summary of responses outlining the feedback the government received on the call for input on the UK funds regime.

11 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

Lesotho, Thailand and Viet Nam sign landmark agreement to strengthen their tax treaties

Lesotho, Thailand and Viet Nam have signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the Convention or MLI).

10 Feb 2022 00:00 | Published by a Tolley Corporation Tax expert

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Transferable tax allowance (also known as the marriage allowance)

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Married couple’s allowance

Married couple’s allowanceThe married couple’s allowance (MCA) is only available if one of the two spouses or civil partners was born before 6 April 1935. This means that one member of the couple must be at least 89 years old on 5 April 2024 to qualify for an allowance in the 2023/24 tax year.There

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Capital allowances on cars

Capital allowances on carsSummary of capital allowances on carsThe current capital allowance rates applicable to cars are as follows:Pool typeDescription of carRateLegislationMain rate poolNew and unused cars with CO2 emissions of 50g/km and below 18%CAA 2001, s 104AASecondhand cars with CO2

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