Highlights from the broader tax news for the week ending 17 January 2024, including: more on the Customs Declaration Service; an update for insolvency practitioners on the VAT deregistration process; a reminder for taxpayers to use the HMRC app to find employment information; and the publication of further pillar two guidance.
Moving to the Customs Declaration Service
HMRC has published a checklist to help declarants move to the Customs Declaration Service (CDS) for exports. All export declarations are due to move to CDS by 30 March 2024. Businesses that have not yet been told to move to CDS by HMRC or their software supplier should only follow steps 1-3. Businesses that already make import declarations through CDS, or view postponed import VAT statements online, will already be subscribed to CDS and should start the checklist at step 3.
Insolvency – VAT deregistration mailbox changes
HMRC has advised that, from 15 January 2024, the dedicated mailbox service for insolvency practitioners (IPs) to request VAT deregistration confirmation will close. Going forward, IPs will receive a VRT23 letter within 40 days of submission of the VAT 7 form. There will be no requirement to use the mailbox as IPs will be issued automatic confirmation of VAT deregistration. Where confirmation is not received within 40 days of sending the VAT 7 form, IPs should call the VAT helpline on 0300 200 3700.
Using the HMRC app to access employment information
HMRC has reminded taxpayers changing jobs that they can use the HMRC app to access key information to give to their new employer. The information available in the app includes the taxpayer’s income and employment history, salary information, national insurance number and tax code.
Further guidance on Pillar two
The OECD/G20 Inclusive Framework on BEPS has released further technical guidance to assist governments with the implementation of the global minimum tax under pillar two. Alongside the guidance, a statement on the timeline of the multilateral convention under pillar one was published.