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Latest Value Added Tax News

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HMRC updates guidance on checking which packaging is subject to PPT

HMRC has updated its guidance on checking which packaging is subject to plastic packaging tax adding a new section about components that contain an adhesive.

14 Apr 2022 00:00 | Published by a Tolley Value Added Tax expert

HMRC Stakeholder Digest: 11 April 2022

HMRC’s Stakeholder Digest (11 April 2022) provides a round-up of the latest news and updates including information on the Ukraine tax relief and guidance, Extending Making Tax Digital (MTD) to all VAT registered businesses and the introduction of the new 64-8 agent authorisation form.

13 Apr 2022 00:00 | Published by a Tolley Employment Tax expert

Consultation outcome: Corporate Re-domiciliation

The Department for Business, Energy & Industrial Strategy (BEIS), in partnership with HM Treasury and HMRC sought views on the introduction of a UK re-domiciliation regime, which would make it possible for foreign-incorporated companies to re-domicile and therefore easier to relocate to the UK. The consultation closed on 7 January 2022. BEIS has now published a summary of the responses received.

13 Apr 2022 00:00 | Published by a Tolley Corporation Tax expert

Employer Bulletin: April 2022

HMRC has published its bi-monthly magazine providing the latest information on payroll-related topics for employers and agents.

13 Apr 2022 00:00 | Published by a Tolley Employment Tax expert

Weekly roundup of HMRC manual changes: 11 April 2022

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

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

HMRC revises guidance on interest rates

HMRC has updated its guidance to explain how repayment and late-payment interest rates are set.

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

VAT Notice 708/6: Energy-saving materials and heating equipment

HMRC has updated its guidance to reflect the legislative changes from 1 April 2022, confirming when the zero, reduced and standard rate applies to the installation of energy-saving materials in Great Britain and Northern Ireland.

07 Apr 2022 00:00 | Published by a Tolley Value Added Tax expert

HMRC Corporate report on Named tax avoidance schemes, promoters, enablers and suppliers

HMRC has issued new guidance regarding the information it may publish on tax avoidance schemes, promoters, enablers and suppliers of these schemes. This includes a ‘current list’ of named tax avoidance schemes, promoters, enablers and suppliers.

07 Apr 2022 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 4 April 2022

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

04 Apr 2022 00:00 | Published by a Tolley Corporation Tax expert

Revenue and Customs Brief 7 (2022): claiming a repayment of overpaid import VAT on the importation of dental prostheses into the UK

HMRC has published a new VAT brief which explains how to claim a repayment of any overpaid import VAT on imports of dental prostheses made between 1 January 2021 and 27 October 2021.

04 Apr 2022 00:00 | Published by a Tolley Value Added Tax expert

Tourism and Hospitality: End of temporary reduced rate

HMRC has updated its guidance to reflect that the temporary reduced rate of VAT for tourism and hospitality ended on 31 March 2022.

04 Apr 2022 00:00 | Published by a Tolley Value Added Tax expert

Making Tax Digital for VAT

HMRC has updated its guidance to reflect that VAT registered businesses with taxable turnover below the registration threshold will need to follow the Making Tax Digital rules from 1 April 2022.

04 Apr 2022 00:00 | Published by a Tolley Value Added Tax expert

Plastic packaging tax comes into effect

To coincide with the introduction of plastic packaging tax on 1 April 2022, HMRC has updated its guidance on registration, with new sections added for partnerships and other entities for which the online registration service is not currently available.

01 Apr 2022 00:00 | Published by a Tolley Value Added Tax expert

Updated HMRC guidance on plastic packaging tax

HMRC has updated its guidance on which packaging is subject to plastic packaging tax (PPT) to provide further clarification to businesses on pre-consumer plastic.

31 Mar 2022 00:00 | Published by a Tolley Value Added Tax expert

SI 2022/393 The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) Regulations 2022

These Regulations amend the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations, SI 2017/692 to substitute the list of high-risk third countries in Schedule 3ZA for a new list.

29 Mar 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC updated guidance on One Stop Shop VAT Return

HMRC has updated its guidance with the inclusion of a new section ‘what not to include in your OSS VAT Return'.

28 Mar 2022 00:00 | Published by a Tolley Value Added Tax expert

Weekly roundup of HMRC manual changes: 28 March 2022

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

28 Mar 2022 00:00 | Published by a Tolley Corporation Tax expert

SI 2022/376 The Customs (Additional Duty) (Russia and Belarus) Regulations 2022

These Regulations increase import duty on Russian and Belarusian goods in response to the invasion of Ukraine.

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

Updated HMRC guidance on Plastic Packaging Tax

HMRC has updated its plastic packaging tax (PPT) guidance to expand the sections on cellulose-based material and recovered materials.

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

SI 2022/365 The Excise Duties (Surcharges or Rebates) (Hydrocarbon Oils etc.) Order 2022

This Order reduces the excise duty on petrol, diesel and other oil products by 5p per litre for 12 months from 23 March 2022.

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

Popular Articles

Gifts out of surplus income

Gifts out of surplus incomeA valuable exemption from inheritance tax (IHT) applies to gifts out of surplus income. This exemption applies only to lifetime gifts and is therefore a key part of lifetime planning. The exemption applies to both outright gifts and gifts into trust. Gifts which meet the

14 Jul 2020 11:48 | Produced by Tolley in association with Emma Haley at Boodle Hatfield LLP Read more Read more

Taxation of loan relationships

Taxation of loan relationshipsThe vast majority of companies will have loan relationships and so will need to consider how they are taxed under the loan relationship rules. There are also specific provisions dealing with relevant non-lending relationships and other deemed loan relationships.

14 Jul 2020 13:48 | Produced by Tolley Read more Read more

Real estate investment trusts (REITs)

Real estate investment trusts (REITs)Introduction to REITsA real estate investment trust (REIT) is in fact not a trust at all, it is a company which qualifies for special tax treatment under CTA 2010, Part 12. REITs are similar in many ways to collective fund vehicles (such as unit trusts) in that

14 Jul 2020 13:04 | Produced by Tolley in association with Rob Durrant-Walker of Crane Dale Tax Read more Read more