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Highlights from the broader tax news for the week ending 22 March 2023, including: reporting issues with the CDS; and EMI changes.

Reporting issues with the Customs Declaration Service

Traders or their agents who encounter problems using the Customs Declaration Service (CDS) to move goods across the border can now report the problem using a new online tool. The online form has been introduced to make resolving issues as easy as possible. Urgent enquires will be dealt with within two hours. All other enquires should have a response within 24 hours.

Employment related securities bulletin highlights three changes to EMI

HMRC’s latest employment related securities bulletin provides details about three administrative changes to enterprise management incentives (EMI) announced at the Spring Budget. The following requirements will be removed from 6 April 2023:

  • setting out within the option agreement, details of any restrictions on the shares that can be acquired; and
  • declaring that an employee signed a working time declaration when they were issued an EMI option (NB, the working time requirement itself remains).

From 6 April 2024, the time limit for a company to notify HMRC of the grant of an EMI option will be extended from 92 days following grant to 6 July following the end of the tax year.

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