Highlights from the broader tax news for the week ending 1 November 2023, including: excise duty simplification; interest on ESS penalties; and Talk Money Week.
HMRC invites views on excise duty simplification
HMRC is in the process of reviewing The Warehousekeepers & Owners of Warehoused Goods Regulations (WOWGR). It is developing proposals on how WOWGR requirements could be reformed and would like to gather views from a wide range of stakeholders. If you or your clients are affected by WOWGR and you would like to comment, please email email@example.com before 29 November 2023.
Interest charges on the late payment of electronic sales suppression penalties
HMRC is consulting on draft regulations for charging interest on the late payment of penalties for electronic sales suppression (ESS) tools. ESS is a form of tax evasion where businesses with an electronic cash register or electronic point of sale system use tools to manipulate electronic records of sales data to hide or reduce the value of individual transactions. The draft regulations appoint 4 March 2024 as the date that late payment interest and repayment interest come into force for the purposes of penalties in relation to electronic sales suppression tools.
Talk Money Week
HMRC will be using Talk Money Week (6–11 November) to promote its digital services. This includes using the HMRC app and online services to:
- claim tax relief on employee expenses like uniforms and professional fees and subscriptions;
- claim up to £252 in marriage allowance;
- claim and manage child benefit;
- check their state pension forecast;
- check their national insurance record;
- claim a refund if they've paid too much tax;
- apply for a Help to Save savings account.
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