Ӱ

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 Owner-Managed Businesses News

Filter icon Filter by tax area

UKSC publishes Practice Note 22 January 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.

26 Jan 2024 00:00 | Published by a Tolley Corporation Tax expert

SI 2024/71 The Designation of Special Tax Sites (Humber Freeport) Regulations 2024

These Regulations designate areas in Humber as freeport tax site with effect from 13 February 2024.

24 Jan 2024 00:00 | Published by a Tolley Corporation Tax expert

SI 2024/69 The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) Regulations

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 “High-Risk Third Countries” (“HRTCs”) as those countries identified by the Financial Action Task Force ("FATF”) in the lists the FATF publish from time to time, as “High-Risk Jurisdictions Subject to a Call for Action” and “Jurisdictions Under Increased Monitoring”.

23 Jan 2024 00:00 | Published by a Tolley Corporation Tax expert

Weekly Roundup HMRC Manuals: 22 January 2024

22 January 2024 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

22 Jan 2024 00:00 | Published by a Tolley Corporation Tax expert

Agent update: issue 116

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.

18 Jan 2024 00:00 | Published by a Tolley Corporation Tax expert

Weekly Roundup HMRC Manuals: 16 January 2024

16 January 2024 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

16 Jan 2024 00:00 | Published by a Tolley Corporation Tax expert

CIOT response: Finance Bill 2023-24

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

12 Jan 2024 00:00 | Published by a Tolley Corporation Tax expert

Weekly Roundup HMRC Manuals: 8 January 2024

8 January 2024 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

08 Jan 2024 00:00 | Published by a Tolley Corporation Tax expert

HMRC updated guidance: Alternative dispute resolution to settle a tax dispute

HMRC has updated its guidance on the use of alternative dispute resolution.

08 Jan 2024 00:00 | Published by a Tolley Owner-Managed Businesses expert

Agent update: issue 115

HMRC has published Agent Update issue 115 (20 December 2023) providing a round-up of recent developments and changes to legislation and allowances relating to UK tax for tax agents and advisers.

21 Dec 2023 00:00 | Published by a Tolley Owner-Managed Businesses expert

The Scottish Government publishes 2024-25 Budget

The Scottish Government published its 2024-25 Budget on 19 December 2023.

19 Dec 2023 00:00 | Published by a Tolley Corporation Tax expert

National Insurance Contributions (Reduction in Rates) Act 2023 receives Royal Assent

National Insurance Contributions (Reduction in Rates) Act 2023 received Royal Assent on 18 December 2023.

19 Dec 2023 00:00 | Published by a Tolley Employment Tax expert

The Welsh Government publishes draft Budget proposals for 2024-25

The Welsh Government published its draft Budget proposals for 2024-25 on 19 December 2023.

19 Dec 2023 00:00 | Published by a Tolley Corporation Tax expert

Weekly Roundup HMRC Manuals: 18 December 2023

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

18 Dec 2023 00:00 | Published by a Tolley Corporation Tax expert

Woodland owners: tax guidance

HMRC has updated its guidance on tax relief and exemption for woodlands.

18 Dec 2023 00:00 | Published by a Tolley Owner-Managed Businesses expert

SI 2023/ 1371 The Money Laundering and Terrorist Financing (Amendment) Regulations 2023

These regulations clarify in law  that domestic politically exposed persons (PEPs should be subject to a lesser extent of enhanced customer due diligence by firms regulated under the money laundering regulations (MLRs) in the absence of other risk factors.

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

SI 2023/1328 The Flexible Working (Amendment) Regulations 2023

These regulations amend the Flexible Working Regulations, SI 2014/1398 to provide that the right to make a flexible working application applies from the first day of employment.

12 Dec 2023 00:00 | Published by a Tolley Employment Tax expert

HMRC consultation on MTD small business review

HMRC has launched a technical consultation for the proposed new Income Tax (Digital Requirements) (Amendment) Regulations 2024 and associated notices. The consultation closes on 12 January 2024

11 Dec 2023 00:00 | Published by a Tolley Owner-Managed Businesses expert

Weekly Roundup HMRC Manuals: 11 December 2023

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

11 Dec 2023 00:00 | Published by a Tolley Corporation Tax expert

SI 2023/1306 The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) (No. 2) Regulations 2023

These regulations update the list of high-risk third countries in respect of which the regulated sector needs to apply enhanced due diligence.

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

Popular Articles

Winding up a trust ― legal, administrative and compliance issues

Winding up a trust ― legal, administrative and compliance issuesOverviewWhen winding up a trust, there are legal formalities and compliance issues that need to be dealt with, as well as IHT and CGT consequences that flow from the termination. This guidance note considers when and how a trust comes

14 Jul 2020 14:01 | Produced by Tolley Read more Read more

Qualifying charitable donations

Qualifying charitable donationsCompanies can obtain corporation tax relief for qualifying payments or certain transfers of assets to charity under the qualifying charitable donations regime. Definition of qualifying charitable donationThe definition of ‘qualifying charitable donations’

14 Jul 2020 13:03 | Produced by Tolley Read more Read more

Interest and penalties on late paid tax under self assessment

Interest and penalties on late paid tax under self assessmentInterestIf the capital gains tax, the balancing payment or payments on account of tax and / or Class 4 national insurance contributions (NIC) are paid late, HMRC will charge interest on the amount overdue from the original due date. The

14 Jul 2020 12:00 | Produced by Tolley Read more Read more