Draft legislation published for some Spring Budget measures
[ad_1] The Spring Finance Bill contains legislation which increases the thresholds for the high income child benefit charge and abolishes multiple dwellings relief for SDLT. Finance (No. 2) Bill 2024 has been introduced into Parliament. The Bill sets the rates of income tax for 2024/25 and the rates of corporation tax for financial year 2025 […]
HMRC consults on draft legislation on retained EU VAT law
[ad_1] The draft legislation and explanatory note clarify how VAT and excise law should be interpreted after changes made by the Retained EU Law (Revocation and Reform) Act 2023. The government has published draft legislation in relation to retained EU law for VAT and excise ahead of potential inclusion in the next finance bill. The […]
Salary advances draft legislation may not work
[ad_1] Draft secondary legislation to simplify PAYE RTI reporting of salary advances needs amending if it is to work as intended where payments are made by third parties rather than by employers. HMRC intends to simplify the PAYE RTI reporting of salary advances so they are reported with the remainder of that salary. This is […]
Legislation Day 2023: R&D and pensions
[ad_1] While a lot of the material published on 18 July was expected, there were some surprise announcements including planned administrative changes to the high income child benefit charge. Legislation day is designed to provide a longer period for consultation on draft legislation for potential inclusion in the next Finance Bill. Most measures have been […]
UK international tax legislation to be reformed
[ad_1] The UK government is seeking views on reforming the UK rules on transfer pricing, permanent establishments, and diverted profits tax. HMRC has issued a consultation that will run for eight weeks to 14 August 2023. The aim is to simplify the existing rules and promote certainty by aligning domestic law with the OECD Model […]