Technical News

Following discussions that the CIOT (and others) have had recently about HMRC’s approach to CIR reporting company (RC) appointments.  HMRC have reconsidered their approach and we have received the email below from HMRC setting out the key points of their new approach. HMRC will also be setting out our position in a forthcoming Agent Update.

Today’s Spring Statement included an announcement that HMRC will not be providing an online filing service to file the year-end tax return for taxpayers who are within the scope of Making Tax Digital for Income Tax (MTD). Those taxpayers must file their year-end tax return using third party software. HMRC refer to this as a ‘full software journey’.

The CIOT has issued a paper outlining our concerns about the wording of certain provisions in the Finance Act 2025 and their effect on s.809P(12) ITA 2007.

HMRC is conducting research on modernising the Stamp Taxes on Shares process, and is beginning to test design concepts starting next week.

HMRC have contacted Joint Customs Consultative Committee stakeholders in respect of the upcoming changes for parcel arrangements between Great Britain and Northern Ireland with the following message:

Following changes to the CGT rates from 30 October 2024, HMRC has now launched the final version of their CGT calculator.

HMRC have advised us that they have recently commenced a new One to Many letter campaign directed at individuals and businesses suspected by HMRC of using Electronic Sales Suppression (ESS) (till fraud) to under-declare their income. The letter states that this is the recipient’s final opportunity to make a complete, accurate and honest disclosure before HMRC calculate what tax they think they owe and charge penalties.

We are pleased to share the following message on behalf of HMRC, which has been emailed to HMRC’s Agent Update distribution list.