Search

Where a loan to a participator in a close company remains outstanding nine months after the balance sheet date, the company making the loan is required to make a payment to HMRC equivalent to33.75%

Currently, the legislation allows HMRC to assess the second late payment penalty once, when the amount of outstanding tax is paid in full, within a two-year assessment time limit.

In recent years, HMRC have been increasing their use of one to many (OTM) letters in their compliance approach.

HMRC say that Ocelot is more user-friendly for caseworkers, setting out information on a single platform with task-based procedural guidance that is easier to follow than the manual format.

The Finance and Public Administration Committee of the Scottish Parliament are carrying out their pre-budget scrutiny in respect of the Scottish Budget 2025-26.

Over the last three years, the ATT has been part of a working group with HMRC looking at how aspects of the process of estate administration could be improved for taxpayers and agents.

The CIOT and ATT broadly agreed with the suggested measures and areas for change that were identified in the consultation document (see tinyurl.com/mrz4p3zc

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 Welsh government recently consulted on proposals to abolish land transaction tax(LTT) multiple dwellings relief (MDR) following the UK government’s decision to abolish the equivalent relief for

Following the Budget announcement about vaping products duty (VPD), aimed at addressing public health concerns about vaping raised by the Department of Health and Social Care, HM Treasury and HMRC