Need to know
In case you missed it – the best of tax in 2023!: ICAEW’s Tax Faculty highlights the key tax articles, events and guidance available on icaew.com.
Self assessment criteria are changing: A further change to the criteria for filing a self assessment tax return was announced in the Autumn Statement 2023. More changes are expected as new digital services are rolled out or improved.
Messages from Government Gateway requesting email address confirmation: Members and their clients have reported receiving emails from the Government Gateway with a confirmation code to confirm an email address. If such requests are received, these should be reported to HMRC.
Prepare for customs controls on imports from Ireland: Some goods will face customs controls from 31 January 2024 when moving directly from Ireland to Great Britain.
Autumn Finance Bill and NIC Bill: ICAEW’s Tax Faculty highlights the key measures included in the Autumn Finance Bill and the NIC Bill.
HMRC contacts agents of businesses in the hot food sector: A letter is being sent to over 500 agents asking them to check whether all sales of clients in the hot food sector are being recognised for VAT, income tax and corporation tax purposes.
Repayment agent problems continue: ICAEW members are receiving reports of tax repayments being made to agents who are unknown to the taxpayer. ICAEW’s Tax Faculty explains how to report such cases to HMRC.
HMRC doubles down on redirecting callers to online services: HMRC has announced that in the run up to the self assessment filing deadline, it will be redirecting callers to online services. The agent dedicated (ADL) line is also affected and will not handle PAYE queries.
HMRC acts on tax repayment agents: ICAEW welcomes further HMRC action to protect taxpayers that use repayment agents.
HMRC ceases providing tax clearance for members’ voluntary liquidations: Clearance service withdrawn with immediate effect. This includes requests already received by HMRC that have not been responded to.
Car allowances and NIC: HMRC updates its approach on the national insurance contributions (NIC) disregard for relevant motoring expenditure following Upper Tribunal decision.
HMRC nudges online traders: Letters sent this month remind businesses to recognise sales for VAT and corporation tax purposes before the deduction of payment processor fees.
Member help sheets and guidance
Off-payroll working and umbrella companies – what good looks like: HMRC has published guidelines to help organisations and contractors involved in off-payroll working (OPW) / IR35 understand what HMRC considers good practice.
Admin burden reduced for UK-resident digital sales platforms: A European Commission regulation ensures that a UK-resident platform hosting EU-resident sellers may only need to report data to HMRC.
Disclosing historic cryptoasset tax liabilities: HMRC has launched a new service for taxpayers to voluntarily disclose any unpaid tax on cryptoassets, such as exchange tokens, non-fungible tokens, and utility tokens.
Digital scheme for DIY housebuilder VAT refunds launched: Taxpayers building their own home can now claim back VAT incurred through an online service.
Energy-saving materials relief extended from February 2024: The VAT zero rate will be extended to more energy-saving materials. The relief will also be available for installations in certain charity buildings.
Consultations
OECD consults on definition of permanent establishment: The OECD seeks to provide clarity on what constitutes a permanent establishment for activities in connection with the exploration or exploitation of extractible natural resources.
Government responds to three consultations on customs measures: The responses set out next steps on measures to simplify customs import and export processes for traders.
HMRC consults on draft making tax digital regulations: ICAEW’s Tax Faculty is seeking feedback on draft regulations and notices on MTD ITSA. The faculty has highlighted four key points for members to consider.
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