HMRC is writing to businesses that complete export declarations to make them aware of key dates for transitioning export declarations to the Customs Declaration Service.

HMRC has sent letters to companies asking them to check whether the valuations they have used to determine annual tax on enveloped dwellings (ATED) liabilities since 2018 are correct.

Research by HMRC shows that more than half of agents have accessed clients’ online accounts, suggesting that agents’ needs are not being met. The findings tally with recent feedback to ICAEW’s Tax Faculty, but overall give a more positive impression than might have been expected.

Data provides a timely reminder that organisations of all sizes should have procedures in place to identify and mitigate tax evasion facilitation risks, says ICAEW.

All TAXline articles and features from January 2023 onwards can be found in our new online hub.

In this issue, Ed Saltmarsh examines VAT tribunal findings in the Innovative Bites case, Angela Clegg examines practical steps for managing the uncertainty within the tax policy environment and Tina Riches recounts her climb on Kilimanjaro to raise money for Tax Aid and Tax Help for Older People.

In this issue, Lindsey Wicks highlights some of the issues likely to be raised as part of the OTS review, Angela Clegg examines the tough landscape for landlords with tax relief restriction and Anita Monteith discusses the traded instruments sprouting from the ambition to achieve net zero.

In this issue, Caroline Miskin explains HMRC’s proposals to expand the data it collects, Peter Ferrigno and Matt Snowdon discuss the tax treatment and implications of participation in non-UK pension schemes and Lindsey Wicks summarises a study from the Organisation for Economic Co-operation and Development.

This TAXguide provides details of the reform to the taxation of unincorporated businesses introduced through FA 2022 to take effect from April 2024.

2022 TAXguides published by ICAEW Tax Faculty.

PAYE rates, thresholds, allowances, etc for employers in 2022/23 covering income tax, NIC, reliefs and levies, statutory payments, pensions, student loans, NMW/NLW rates and car/van/fuel BIK

In this series of webinars the ICAEW Tax Faculty (Anita Monteith and Caroline Miskin) and guests will provide the latest information and guidance on MTD ITSA, covering topics such as choosing software, the progress of HMRC’s pilot, the practicalities of signing up and answer questions from businesses and practitioners.

This webinar from the Tax Faculty will explain the new penalty rules for late submission and payment in relation to VAT

Regulation of the tax profession - what could it look like?

This webinar from the Tax Faculty will provide details of the potential VAT and duty benefits of operating within a Freeport area.

A response dated 12 January 2023 to a consultation published by HMRC on 24 October 2022.

Text of letter sent on 19 December 2022 to HMRC about form P11D employer annual return of employee expenses and benefits.

The government has moved swiftly to consult on draft legislation to reform basis period rules before MTD ITSA becomes mandatory. ICAEW is concerned that changes will be rushed through and disappointed that the normal consultation process is not being followed.

ICAEW welcomes HMRC’s vision of a more flexible and responsive tax system outlined in the Tax Administration Framework Review but warns that significant challenges, such as creating a single identifier for taxpayers and consolidation of tax systems, can only be met if HMRC is properly resourced.

A single identifier for individuals and smoother registration processes are pre-requisites for a better tax system, argues ICAEW. HMRC also needs funding to develop an improved process for registering, authenticating and authorising agents.

ICAEW considers HMRC’s call for evidence on timely payment to be premature, as earlier payment of income and corporation tax would reduce businesses’ flexibility to manage their cashflow.