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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.

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HMRC Stakeholder Digest: 29 August 2024

HMRC has published its latest Stakeholder Digest (29 August 2024).

02 Sep 2024 00:00 | Published by a Tolley Corporation Tax expert

Updated HMRC Privacy Notice

HMRC has updated its Privacy Notice on the examination of business records, Artificial Intelligence (AI) and automated decision-making.

30 Aug 2024 00:00 | Published by a Tolley Corporation Tax expert

Agent Update: Issue 122

HMRC has published Agent Update issue 122 (21 August 2024) providing a round-up of recent developments and changes to legislation and allowances relating to UK tax for tax agents and advisers.

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

Guidance on giving evidence from abroad in UK court or tribunal cases updated

The Foreign, Commonwealth & Development Office (FCDO) has updated its guidance on giving evidence by video link from abroad in a UK court or tribunal case.

21 Aug 2024 00:00 | Published by a Tolley Corporation Tax expert

New and updated HMRC guidance on VAT One Stop Shop (OSS)

HMRC has published new guidance and updated the collection of VAT tertiary legislation related to the VAT One Stop Shop (OSS) scheme.

20 Aug 2024 00:00 | Published by a Tolley Value Added Tax expert

Updated HMRC guidance on paying a tax bill

HMRC has updated its guidance on ‘What will happen if you don’t pay your tax bill’.

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

Tribunal Procedure Committee consultation on changes to procedure rules for the First-tier Tribunal (Tax Chamber)

The Tribunal Procedure Committee seeks views on potential amendments relating to the issue of full decisions.

13 Aug 2024 00:00 | Published by a Tolley Corporation Tax expert

HMRC cuts late-payment and repayment interest rates

HMRC is reducing the late-payment interest rate to 7.5% and the repayment rate to 4% from 20 August 2024 for most taxes and payments. Interest on quarterly instalment payments of corporation tax will also be reduced from 12 August.

06 Aug 2024 00:00 | Published by a Tolley Corporation Tax expert

Updated HMRC guidance on making changes to VAT registration details

HMRC has updated its guidance on how to make changes to VAT registration details.

05 Aug 2024 00:00 | Published by a Tolley Value Added Tax expert

Draft Finance Bill legislation published

HMRC has published draft Finance Bill legislation on furnished holiday lettings, Pillar 2 and VAT for private schools.

30 Jul 2024 00:00 | Published by a Tolley Corporation Tax expert

Autumn Budget date announced

The Autumn Budget will be on 30 October 2024. The Government has also published some tax documents.

29 Jul 2024 00:00 | Published by a Tolley Corporation Tax expert

ATT discuss priorities for the tax system with the Exchequer Secretary to the Treasury

The Association of Taxation Technicians (ATT) has met with James Murray MP, the Exchequer Secretary to the Treasury, to discuss priorities for reforms to the tax system and how it can support economic growth.

25 Jul 2024 00:00 | Published by a Tolley Corporation Tax expert

New guidance on the publication of decisions in the Upper Tribunal (Tax and Chancery Chamber)

New guidance has been issued as to when substantive, interlocutory and permission to appeal decisions of the Upper Tribunal (Tax and Chancery Chamber) will and will not be published.

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

Budget Responsibility Bill published

The UK government has published a new Bill designed to ensure that announcements of ‘fiscally significant measures’ are subject to an independent assessment from the OBR.

19 Jul 2024 00:00 | Published by a Tolley Corporation Tax expert

Agent update: Issue 121

HMRC has published Agent Update issue 121 (17 July 2024) providing a round-up of recent developments and changes to legislation and allowances relating to UK tax for tax agents and advisers.

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

King’s Speech 2024: highlights

Opening the 2024–25 Parliamentary session on 17 July 2024, the King’s Speech set out the UK Government's legislative priorities.

17 Jul 2024 00:00 | Published by a Tolley Corporation Tax expert

CIOT letter to the new Exchequer Secretary to the Treasury

The CIOT has written to the new Exchequer Secretary to the Treasury, James Murray MP, regarding tax issues for the new government.

17 Jul 2024 00:00 | Published by a Tolley Corporation Tax expert

Changes to the use of paper form VAT 484

HMRC has contacted JVCC stakeholders about planned restrictions on the use of the VAT484.

12 Jul 2024 00:00 | Published by a Tolley Value Added Tax expert

New HMRC Tool on VAT

HMRC has published a new tool – ‘Check what registering for VAT may mean for your business’

10 Jul 2024 00:00 | Published by a Tolley Value Added Tax expert

CIOT comments: Penalties for Failure to Pay Tax

The CIOT and Low Incomes Tax Reform Group (LITRG) has commented on draft legislation that was recently published by HMRC which would make changes to assessment provisions under the harmonised penalty rules for late payment of tax which initially apply to VAT and ITSA.  The response includes several suggestions for improvement of the legislation.

07 Jun 2024 00:00 | Published by a Tolley Corporation Tax expert

Popular Articles

Losses on shares set against income

Losses on shares set against incomeUsually, allowable capital losses can only be set against chargeable gains. If the losses are not fully utilised against gains in the year in which they arise, the excess is carried forward to use against future gains. See the Use of capital losses guidance note

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

First year allowances

First year allowancesFirst year allowances (FYAs) are available on the following items:•first-year relief on qualifying new main rate plant and machinery (at 100%, which is described by HMRC as ‘full expensing’) and special rate assets (at 50%) from 1 April 2023 (companies only). These FYAs were

14 Jul 2020 11:41 | Produced by Tolley Read more Read more

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