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Highlights from the broader tax news for the week ending 20 March 2024, including: HMRC\u2019s framework for large businesses; new secondary legislation applying across a range of areas, including the off-payroll rules; maps of investment zones; and updated guidance on genuine HMRC contact.<\/p>\n
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HMRC has published a set of principles<\/a> that both HMRC and large businesses should apply to the way they work. The framework is used as part of HMRC\u2019s existing approach to large business tax risk management.<\/p>\n The Income Tax (Pay As You Earn) (Amendment) (No. 2) Regulations 2024<\/a> make provision for HMRC to off-set amounts of tax already paid by a worker and their intermediary on income from engagements under the off-payroll working (IR35) rules against a subsequent PAYE liability of the deemed employer in respect of the same income. The regulations come into force on 6 April 2024. ICAEW responded\u00a0to the consultation on the draft regulations. HMRC has published guidance on the new rules at EIM10037-10039<\/a>. For ICAEW guidance on the off-payroll working rules generally, see the dedicated webpage. <\/p>\n Regulations relevant to a range of areas have been made, including:<\/p>\n HMRC has published maps of the Liverpool City Region, North East and West Midlands investment zones<\/a> and the Inverness and Cromarty Firth Green Freeport<\/a>.<\/p>\n HMRC has updated its guidance on genuine HMRC contact<\/a> to include research on the impact of making tax digital on taxpayers and information about understanding the use of the Lifetime ISA. Also, HMRC has updated its list of genuine letters to include the letter IDMS99P – simple assessment<\/a>.<\/p>\n<\/div>\nRegulations provide for off-sets of tax under the off-payroll working rules<\/h2>\n
New secondary legislation across a range of areas<\/h2>\n
Maps of investment zones published<\/h2>\n
Genuine HMRC contact<\/h2>\n