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In this article, we summarise the main points from meetings of various groups that took place in early autumn 2024, which are attended by CIOT, LITRG and ATT volunteers.

We have a lot of information available on our website to help people understand umbrella companies and manually check whether pay and taxes are being dealt with properly.

Broadly, carried interest is the allocation of an equity fund’s profit share paid to investment managers in connection with their management activities.

The Income Tax (Construction Industry Scheme) (Amendment) Regulations 2024 (SI 2024/308) came into force on 6 April 2024.

The CIOT, in conjunction with the joint CIOT/ATT Climate Change Working Group, has responded to proposals to introduce a carbon tax on certain imports arriving in the UK from January 2027 (see

The consultation on tackling non-compliance in the umbrella company market, which both the CIOT and LITRG responded to (see tinyurl.com/p9ankcs8), closed i

The consultation is on GOV.UK website: tinyurl.com/458eb9cs

HMRC published Revenue and Customs Brief 7 (2024) VAT treatment of voluntary carbon credits (tinyurl.com/53pydsuy) on 9 May, which confirms that v

HM Treasury and HMRC launched their joint ‘Consultation on the introduction of a UK carbon border adjustment mechanism’ (CBAM) 

The Act (see tinyurl.com/yn65e7wy) ensures that: