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Consultation Outcome: Draft legislation: Improving the data HMRC collects

The consultation on improving the data collected by HMRC from taxpayers has concluded and the outcome and next steps has been published.

29 Jan 2025 00:00 | Published by a Tolley Employment Tax expert

SI 2025/84 The Income Tax (Additional Information to be included in Returns) Regulations 2025

These Regulations are made to specify information on start and end dates of self-employment, which the self-employed are required to provide to HMRC via their Income Tax Self Assessment return, and additional information about dividend income which directors of owner-managed companies are required to provide to HMRC via their Income Tax Self Assessment return.

29 Jan 2025 00:00 | Published by a Tolley Personal Tax expert

SI 2025/82 The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendments) Regulations 2025

These Regulations are made to amend 116 pieces of UK secondary legislation and 130 pieces of assimilated direct EU legislation in relation to retained EU law reform. They amend or revoke various provisions of subordinate legislation and assimilated direct legislation in consequence of certain provisions of the Retained EU Law (Revocation and Reform) Act 2023 (REUL(RR)A 2023). They are made in exercise of legislative powers under the REUL(RR)A 2023 in connection with assimilated law. They came into force on 27 February 2025.

28 Jan 2025 00:00 | Published by a Tolley Corporation Tax expert

Rates relief to be withdrawn from private schools in Wales

Following consultation, the Welsh Government has confirmed that it will end charitable business rates relief for fee-charging schools. The change will come into effect on 1 April 2025, if it is approved by the Senedd.

28 Jan 2025 00:00 | Published by a Tolley Corporation Tax expert

Tax news roundup: 27 January 2025

In the ever-fast-moving world of tax announcements and developments, this news pulls together some of the key changes announced this week. Our commentary will be updated in due course to reflect these latest developments.

27 Jan 2025 00:00 | Published by a

Finance Bill 2025 roundup (24 January 2025): latest Government amendments

The Government has published a raft of amendments to be considered by the Public Bill Committee. Most of the changes affect the replacement of remittance basis/domicile Schedules.

27 Jan 2025 00:00 | Published by a Tolley Corporation Tax expert

Weekly Roundup HMRC Manuals: 27 January 2025

27 January 2025 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

27 Jan 2025 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC import, export and customs guidance: 27 January 2025

Details of updates to HMRC import, export and customs guidance for the period from 21 to 27 January 2025.

27 Jan 2025 00:00 | Published by a

SI 2025/52 The MPs’, Senedd and Assembly Pension Schemes (Tax) Regulations 2025

These Regulations are made to address the tax consequences of changes arising from the rectification exercises carried out by the Parliamentary Contributory Pension Fund (PCPF), the Members of the Senedd Pension Scheme (Senedd Scheme) or an Assembly Members’ Pension Scheme (Northern Ireland)

24 Jan 2025 00:00 | Published by a Tolley Employment Tax expert

Independent Review of the Loan Charge

The Government has commissioned a new independent review of the Loan Charge.

24 Jan 2025 00:00 | Published by a Tolley Employment Tax expert

Final version of Charter for Budget Responsibility published

The final version of the document as it has been laid in Parliament has been published.

23 Jan 2025 00:00 | Published by a Tolley Corporation Tax expert

SI 2025/54 The Land Transaction Tax (Modification of Special Tax Sites Relief) (Wales) Regulations 2025

These Regulations are made to amend the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (the 2017 Act) to amend Schedule 21A (relief for special tax sites) which provides for a relief from land transaction tax for qualifying transactions of land within a special tax site.

23 Jan 2025 00:00 | Published by a Tolley Corporation Tax expert

SI 2025/53 The Income Tax (Indexation of Blind Person’s Allowance and Married Couple’s Allowance) Order 2025

This Order fulfils the indexation requirements in section 57 (indexation of allowances) of the Income Tax Act 2007 (ITA 2007) in respect of blind person’s allowance and married couple’s allowance, which are increased by reference to the Consumer Price Index.

22 Jan 2025 00:00 | Published by a Tolley Personal Tax expert

Pensions schemes newsletter 166 — January 2025

HM Revenue and Customs (HMRC) has published Pensions schemes newsletter 166 for January 2025

22 Jan 2025 00:00 | Published by a Tolley Employment Tax expert

SI 2025/51 The Income Tax (Indexation of Qualifying Care Relief Amounts) Order 2025

This Order fulfils the indexation requirements in section 828A (indexation of the fixed amount and the amount per adult and child) of the Income Tax (Trading and Other Income) Act 2005 (IT(TOI)A 2005) in respect of qualifying care relief amounts, which are increased by reference to the consumer price index.

22 Jan 2025 00:00 | Published by a Tolley Personal Tax expert

DWP concludes annual statutory review of AE thresholds for 2025 to 2026 financial year

Department for Work and Pensions (DWP) has concluded its annual statutory review of the Automatic Enrolment (AE) thresholds for the 2025 to 2026 financial year

22 Jan 2025 00:00 | Published by a Tolley Employment Tax expert

CIOT response: The Tax Administration Framework Review: New ways to tackle non-compliance

The CIOT has published its response to the HMRC consultation on “The Tax Administration Framework Review: New ways to tackle non-complianceâ€. The response addresses various proposals aimed at improving tax compliance and administration.

21 Jan 2025 00:00 | Published by a Tolley Corporation Tax expert

CIOT response: Simplifying the Taxation of Offshore Interest

The CIOT has published its response to the HMRC consultation on “Simplifying the Taxation of Offshore Interestâ€. The response addresses the complexities and potential solutions for taxing overseas investment income.

21 Jan 2025 00:00 | Published by a Tolley Owner-Managed Businesses expert

Weekly Roundup HMRC Manuals: 20 January 2025

20 January 2025 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

20 Jan 2025 00:00 | Published by a Tolley Corporation Tax expert

New and updated MTD notices

HMRC has published a new notice on digital record keeping for Making Tax Digital for Income Tax. It has also updated the notice on the information to be submitted with details about the quarterly update information that must be provided by a relevant person with property income and profits from a jointly let property.

20 Jan 2025 00:00 | Published by a Tolley Owner-Managed Businesses expert

Popular Articles

Foreign exchange issues

Foreign exchange issuesOverview of foreign exchange provisionsForeign exchange (FX) movements are generally taxed following the rules applicable to the underlying income, expenditure, asset or liability on which they arise, broadly as follows:Capital assetsOn a realisation basis (ie on disposal)

14 Jul 2020 11:44 | Produced by Tolley Read more Read more

Classes of NIC and who pays them

Classes of NIC and who pays themClass 1 NICClass 1 NIC is payable on earnings paid to an employed worker which derive from, or are treated as deriving from, an employed earner’s employment in the UK. There are two kinds of Class 1 NIC, primary contributions for which the employee is liable and

14 Jul 2020 11:13 | Produced by Tolley in association with Jim Yuill at The Yuill Consultancy Read more Read more

Computation of corporation tax

Computation of corporation taxCompanies pay corporation tax on the taxable total profits (TTP) generated in a chargeable accounting period (CAP).To ascertain whether the entity is within the charge to corporation tax, see the Charge to corporation tax guidance note.For more information on the type

14 Jul 2020 11:16 | Produced by Tolley Read more Read more