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HMRC has clarified its policy in relation to the VAT treatment of remedial building works to correct faulty workmanship or replace faulty materials, including the replacement of cladding

SI 2024/1349: Amendments are made to sections 150(1), 155(1B)(b), and 161(b) of the Income Tax (Earnings and Pensions) Act 2003 (the Act). This Order comes into force on 6 April 2025.

The Chancellor of the Exchequer, Rachel Reeves has confirmed the Spring forecast will take place on Wednesday 26 March 2025.

16 December 2024 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

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.

Details of updates to HMRC import, export and customs guidance for the period from 10 to 16 December 2024.

The subgroup which is chaired by HMRC and has members from representative bodies is time limited and will focus on the changes to the taxation of non-domiciled individuals (non-doms).

The CIOT has published a Finance Bill 2024-25 briefing on the removal of the VAT exemption for private school fees.

These Regulations are made to enable the repayment of tax and interest collected from multinational groups in accordance with a European Commission state aid decision which has now been overturned on appeal.

The CIOT has published Finance Bill 2024-25 briefings on capital gains tax and oil and gas taxation

Amendments are made to the Small Companies and Groups (Accounts and Directors’ Report) Regulations 2008, SI 2008/409, the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, SI 2008/410, the Companies Act 2006 and the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, SI 2008/1911.

These Regulations are made to amend the Land Transaction Tax (Tax Bands and Tax Rates) (Wales) Regulations 2018, SI 2018/128 to insert revised percentage tax rates for the tax bands applicable to higher rates residential property transactions. They come into force on 11 December 2024.

Finance Minister Mark Drakeford has published the draft Welsh Budget 2025-26.

The CIOT and ICAEW have published a report addressing HMRC’s customer service challenges, setting out ten recommendations for improvements.

The CIOT and LITRG have published a response to the Finance and Public Administration Committee’s call for evidence on the Scottish Budget 2025-26. The response focuses on the tax strategy and tax policy in Scotland, highlighting key areas of concern and recommendations for improvement.

9 December 2024 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors

HMRC has published a new calculator to work out the overlap relief figure for the 2023/24 tax year.

HMRC has updated its guidance regarding VAT late payment penalties.

Details of updates to HMRC import, export and customs guidance for the period from 3 to 9 December 2024.

HMRC has updated VAT Notice 733 on the Flat Rate Scheme for small businesses