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The CIOT has responded to HMRC’s technical consultation on draft guidance for two aspects of the Research and Development (R&D) tax reliefs due to be implemented on 1 April 2024.

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

In the ever-fast-moving world of tax announcements and developments, this news pulls together some of the key changes announced this week. Our commentary will be updated in due course to reflect these latest developments.

Details of updates to HMRC import, export and customs guidance for the period from 26 February to 4 March 2024

These Regulations make provision to implement a new statutory entitlement to Carer’s Leave for employees from 6th April 2024. They ensure that this leave will be available to employees to care for a dependant with a long-term care need.

These regulations set the annual rates of Working Tax Credit and Child Tax Credit from 6 April 2024, and the weekly rate of Child Benefit and Guardian’s Allowance from 8 April 2024.

The CIOT has sent a proactive submission to HMRC on uncertainties in relation to the application of ESC D32 on the incorporation of a business.

The European Public Prosecutor’s Office (EPPO) has reported that it has arrested 14 individuals believed to have orchestrated a €195m VAT fraud scheme that spanned 17 countries. The EPPO and supporting partners, including Eurojust, Europol, HM Revenue and Customs and relevant European counterparts, carried out over 18 searches involving 680 tax and police investigators. The EPPO has also reported that investigators seized €15.3m worth of smartphones, used to perpetuate the fraud, a yacht worth €3m, around €1.2m in cash and cryptocurrency, luxury cars and jewellery and gold. The countries involved in the investigation were: Albania, Austria, Croatia, Cyprus, Czechia, Estonia, Germany, Hungary, Italy, Malta, the Netherlands, Poland, Portugal, Slovakia, Slovenia, Sweden and the UK.

HMRC has updated its guidance on how to register a charity for tax, taxpayer’s obligations, and any reliefs or exemptions available.

HMRC has updated its VAT notice on claiming a VAT refund in the UK for businesses established outside the UK.

HMRC has published a brief on the VAT liability of the live streaming of funeral, burial or cremation services.

These Regulations give effect to the annual re-rating of various National Insurance contributions rates, limits and thresholds from 6 April 2024.

The OECD Secretary-General’s Tax Report to Finance Ministers and Central Bank Governors has been published.

HMRC has updated its recently published lifetime allowance newsletter.

The Scottish Parliament has approved the 2024-25 Scottish Budget.

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

Details of updates to HMRC import, export and customs guidance for the period from 20 February 2024 to 26 February 2024.

In the ever-fast-moving world of tax announcements and developments, this news pulls together some of the key changes announced this week. Our commentary will be updated in due course to reflect these latest developments.

HMRC has published pension schemes newsletter 156.

These Regulations amend SI 2001/1004 to disregard from earnings three compensation schemes in order to exempt them from Class 1 National Insurance Contributions (NICs).