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Latest Value Added Tax News

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Mini-Budget: 23 September 2022—key tax highlights

The Chancellor of the Exchequer delivered a fiscal statement to the House of Commons, outlining cuts to income tax, reversal of the NIC increases, scrapping of the planned increase in corporation tax, permanent £1m annual investment allowance, unwinding of the 2017 and 2021 off-payroll working rules changes, and cuts to SDLT.

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

HMRC guidance: How to choose a tax agent

HMRC has published new guidance on how to choose a tax advisor/agent to deal with HMRC on a taxpayer’s behalf.

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

Agent Update: issue 100

HMRC has published Agent Update issue 100 (September 2022) providing a round-up of recent developments and changes to legislation and allowances relating to UK tax for tax agents and advisers.

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

Updated guidance on how VAT affects charities (VAT Notice 701/1)

HMRC has updated VAT Notice 701/1 to add information in relation to the stage 2 test.

22 Sep 2022 00:00 | Published by a Tolley Value Added Tax expert

CIOT response to the consultation on protecting customers claiming tax repayments

The CIOT has responded to the HMRC consultation on raising standards in tax advice: protecting customers claiming tax repayments.

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

New HMRC tax agent and adviser guidance pages

HMRC has published several guidance pages relating to HMRC online services for agents.

08 Sep 2022 00:00 | Published by a Tolley Corporation Tax expert

Updated HMRC guidance on plastic packaging tax

HMRC has updated its plastic packaging tax (PPT) return guidance to provide details on amending a previous tax return.

06 Sep 2022 00:00 | Published by a Tolley Value Added Tax expert

VAT refund scheme to reopen for new applications: Museums and Galleries

Museums and Galleries are being urged to apply for VAT refunds to support opening free of charge as part of plans to boost visitor numbers and give more people access to arts and culture.

06 Sep 2022 00:00 | Published by a Tolley Value Added Tax expert

HMRC Stakeholder Digest: 1 September 2022

HMRC’s Stakeholder Digest (1 September 2022) provides a round-up of recent news.

05 Sep 2022 00:00 | Published by a Tolley Personal Tax expert

Weekly roundup of HMRC manual changes: 30 August 2022

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

30 Aug 2022 00:00 | Published by a Tolley Personal Tax expert

Weekly roundup of HMRC manual changes: 22 August 2022

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

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

HMRC Stakeholder Digest: 17 August 2022

HMRC’s Stakeholder Digest (17 August 2022) provides a round-up of recent news including various reminders for 2021–22.

19 Aug 2022 00:00 | Published by a Tolley Personal Tax expert

Agent Update: issue 99

HMRC has published Agent Update issue 99 (August 2022) providing a round-up of recent developments for tax agents and advisers.

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

Weekly roundup of HMRC manual changes: 16 August 2022

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

15 Aug 2022 18:30 | Published by a Tolley Corporation Tax expert

CC/FS72: Corresponding with HMRC by email

HMRC has published new factsheet CC/FS72 on corresponding with HMRC by email.

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

HMRC Stakeholder Digest: 4 August 2022

HMRC’s Stakeholder Digest (4 August 2022) provides a round-up of recent news including Legislation Day and HMRC’s annual report and accounts for 2021–22.

08 Aug 2022 00:00 | Published by a Tolley Corporation Tax expert

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 5 August 2022 to increase the bank base rate from 1.25% to 1.75%.

08 Aug 2022 00:00 | Published by a Tolley Corporation Tax expert

FTT publishes updated guidance on oral evidence from abroad

The Tax Chamber President has released updated guidance on the procedure to be followed when a party to a case wishes to rely on oral evidence given by video or telephone from abroad.

03 Aug 2022 00:00 | Published by a Tolley Corporation Tax expert

Updated HMRC guidance on Insolvency (VAT notice 700/56)

HMRC has updated Notice 700/56 to add a new section on set-off and preferential debts.

25 Jul 2022 00:00 | Published by a Tolley Value Added Tax expert

Automatic sign up for Making Tax Digital for VAT for all new VAT registrations from 1 August 2022

HMRC has developed a new VAT Registration Service which will see all new taxpayers automatically signed up for Making Tax Digital for VAT from 1 August 2022.

22 Jul 2022 00:00 | Published by a Tolley Value Added Tax expert

Popular Articles

Exporting goods ― proof of export

Exporting goods ― proof of exportIn addition to the requirements laid down in the Exporting goods ― overview guidance note, businesses intending to zero-rate exported goods must hold satisfactory evidence that the goods have been delivered to a destination outside of the UK. If satisfactory evidence

15 Dec 2020 14:02 | Produced by Tolley Read more Read more

Special rate pool and long life assets

Special rate pool and long life assetsSpecial rate poolExpenditure on some types of plant or machinery must, if neither annual investment allowance (AIA) nor first year allowances (FYAs) are available, be allocated to a ‘special rate pool’. Expenditure to be allocated to the special rate pool

14 Jul 2020 13:41 | Produced by Tolley Read more Read more

Class 1 v Class 1A

Class 1 v Class 1AClass 1 and Class 1AClass 1 and Class 1A are the categories of NIC that can be charged on expenses reimbursed and benefits provided to employees. These classes are mutually exclusive. A benefit cannot be subject to both Class 1 and Class 1A NIC. Three requirements must be met

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