ICAEW.com works better with JavaScript enabled.

Highlights from the broader tax news for the week ending 28 February 2024, including: a new income tax exemption for the Champions League final; tips from HMRC on paying PAYE and filing an ATED return; and the EU’s new digital system for union goods.

Income tax exemption for Champions League final

The government has announced that it will introduce an income tax exemption for income earned in the UK by certain non-UK resident individuals in connection with the 2024 UEFA Champions League final. The relief is expected to apply to approximately 600 non-UK resident competitors, officials and other designated individuals participating in, or otherwise involved with the final, which is scheduled to take place on 1 June 2024.

Tips on paying PAYE

HMRC’s Agent Update 117 includes tips for agents on how to ensure that a client’s payments of PAYE are allocated correctly. In addition to the 13-character accounts office reference, the client may wish to include 4 numbers to advise HMRC which tax year and month or quarter the payment is for. If the client makes payments through the variable direct debit, or through the online service, the service will work out the correct numbers for them.

HMRC guidance on submitting an ATED return

HMRC has published guidance on how to submit an annual tax on enveloped dwellings (ATED) return for the chargeable period beginning on 1 April 2024. The deadline for submitting the return is 30 April 2024. HMRC has advised that an online ATED return can be populated from around mid-March 2024 but cannot be submitted before 1 April 2024.

Digital proof of status for EU goods

From 1 March 2024, the EU is introducing a new digital system for union goods (products made in the EU or imported with duties paid). Union goods avoid EU customs procedures, but you'll need digital “Proof of Union Status” when moving them between EU countries and Northern Ireland via a non-EU territory. To use the new system, email admin.uum@hmrc.gov.uk with your name, email, registration confirmation, NI business address, and XI EORI number. More information can be found here.

Sign up to TAXwire

Sign up to the Tax Faculty newsletter which provides weekly updates on developments in tax practice and policy.

Register nowFind out more about the Tax Faculty
Tax Faculty

This guidance is created by the Tax Faculty, recognised internationally as a leading authority and source of expertise on taxation. The Faculty is the voice of tax for ICAEW, responsible for all submissions to the tax authorities. Join the Faculty for expert guidance and support enabling you to provide the best advice on tax to your clients or business.