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Claritax News

Business taxes

Corporation tax, business profits and losses, basis periods, capital allowances

March 2023

East Midlands freeport now fully operational

Yesterday
The freeport received “final government sign off” yesterday, the seventh English freeport to reach that status. Freeports offer SDLT and...

March 2023

HMRC webinars – VAT, trusts, capital allowances super-deduction

27 March 2023
HMRC’s latest Talking Points mentions that recorded webinars will be available as follows: An overview of the new VAT late...

March 2023

Plastic packaging tax – tax relief on exported and converted components – HMRC update guidance

23 March 2023
HMRC have updated their guidance Get tax relief on exported and converted components for Plastic Packaging Tax. “Guidance has been...

March 2023

Capital allowances commentary – new Claritax editions

22 March 2023
The 2023-24 editions of Capital Allowances and of the A-Z of Plant & Machinery will be published in April. They...

March 2023

Redress payment taxable on partnership, not successor company – O’Neil and Anor

21 March 2023
The First-tier Tribunal has dismissed an appeal that a redress payment (“the redress payment”) made by RBS in respect of...

March 2023

Capital allowances – construction of hydro electric power station – Supreme Court to hear appeal on 23 March 2023 – SSE Generation Ltd

20 March 2023
HMRC’s appeal against the Court of Appeal’s judgment in respect of HMRC v SSE Generation Ltd  EWCA Civ 105 will be heard...

March 2023

BUDGET – Audio-visual tax reliefs

15 March 2023
The Chancellor announced, as part of his Budget, audio visual tax reliefs in the form of tax credits using the...

March 2023

BUDGET – A simpler tax system for small businesses

15 March 2023
The Chancellor has announced a series of admin changes to simplify the tax system to make it easier for small...

March 2023

BUDGET – Extending the cash basis for self-employed businesses – consultation

15 March 2023
As part of today’s Budget documentation, HMRC are inviting views on “options for extending the Income Tax cash basis for...

March 2023

BUDGET – New research and development scheme

15 March 2023
The Chancellor has announced a new R&D scheme for 20,000 SMEs in the UK coming in from 1 April 2023...

March 2023

BUDGET – Corporation tax to increase as expected

15 March 2023
The higher rate will apply to companies that make profits of £250,000 or more. The rate for smaller companies, with...

March 2023

BUDGET – Investment zones

15 March 2023
Twelve new investment zones are to be created in the UK, including one each in Scotland, Wales and Northern Ireland....

March 2023

BUDGET – Capital allowances – full expensing for companies (only)

15 March 2023
As expected, the annual investment allowance is to increase to £1 million from 1/6 April 2023. This is available for...

March 2023

R&D – ICAEW responds to proposal to merge schemes

15 March 2023
The ICAEW has published a response to the government proposal to merge the two current R&D schemes. https://www.icaew.com/insights/tax-news/2023/mar-2023/proposed-merger-of-r-and-d-schemes-icaew-responds Related content...

March 2023

R&D – amended list of qualifying activities – The Research and Development (Prescribed Activities) Regulations 2023

14 March 2023
SI 2023/293, The Research and Development (Prescribed Activities) Regulations 2023, amends the list of activities that qualify as research and...

March 2023

Tobacco duty – HMRC update Raw Tobacco Approval Scheme (Excise Notice 2003)

9 March 2023
HMRC have updated Excise Notice 2003: Tobacco Duty – the Raw Tobacco Approval Scheme. This notice is about the Raw...

March 2023

Self-employment – HMRC add live webinar links to guidance

8 March 2023
HMRC have updated their guidance HMRC email updates, videos and webinars if you’re self-employed. Links to register for the following...

March 2023

Capital allowances – super-deductions – HMRC launch letter campaign

8 March 2023
HMRC have recently launched a One to Many letter campaign in respect of capital allowances super-deductions. A “One to Many”...

March 2023

Corporation tax – relief for intangibles denied to corporate holders of LLP – Muller UK and Ireland Group LLP and Anor

6 March 2023
The First-tier Tribunal has judged that an LLP may be treated as a notional company for the purpose of determining...

March 2023

Corporate finance – interest restriction – groups – updated HMRC guidance

3 March 2023
HMRC have updated the Corporate Finance Manual on page CFM 95435, entitled “Interest restriction: groups, periods and financial statements: period...

February 2023

Approved professional organisations and learned societies – List 3 updated

23 February 2023
HMRC have updated List 3, which gives details of professional membership fees for which a tax deduction may (subject to...

February 2023

R&D tax relief – ICAEW representations re proposed changes

23 February 2023
The Tax Faculty of the ICAEW has published its “representation” (Rep 09/23) on proposed changes to the R&D tax relief...

February 2023

R&D tax relief – ICAEW responds to draft guidance

22 February 2023
HMRC published draft guidance covering changes to the research and development tax reliefs due to be implemented on 1 April...

February 2023

Corporation tax – HMRC update Cotax Manual

20 February 2023
HMRC have updated their COTAX Manual. The manual covers all aspects of company taxation including appeals, enquiries, payments and penalties....

February 2023

R&D tax relief – ATT responds to draft guidance

17 February 2023
HMRC published draft guidance covering changes to the research and development tax reliefs due to be implemented on 1 April...

February 2023

Approved professional organisations and learned societies – List 3 updated

16 February 2023
HMRC have updated List 3, which gives details of professional membership fees for which a tax deduction may (subject to...

February 2023

Climate change levy – HMRC update utility direction guidance

16 February 2023
HMRC have updated their guidance Find out who has been granted a utility direction. This alphabetical list helps gas and...

February 2023

EU legislation within the scope of UK/EU Withdrawal Agreement and /NI Protocol – HMRC publish Explanatory Memorandum

15 February 2023
HMRC have published an Explanatory Memorandum C(2022)9254, providing a summary of EU legislation concerning extending the possibilities for making customs...

February 2023

Online sales tax – HM Treasury publishes final outcome

15 February 2023
HM Treasury has published the final outcome of the consultation Online Sales Tax: Policy Consultation. “As an outcome of the...

February 2023

Audio-visual tax reliefs – ICAEW responds to HM Treasury’s consultation

15 February 2023
The ICAEW have responded to HM Treasury’s consultation concerning the proposed merger of five audio-visual tax reliefs and altering the...

February 2023

NICs – CWG5 (re Class 1A contributions) updated with 2023-24 figures

15 February 2023
HMRC have published the updated CWG5: 2023: Class 1A National Insurance contributions on benefits in kind, termination payments and sporting...

February 2023

R&D – HMRC issue letters requesting company directors to review previous claims

14 February 2023
HMRC have recently launched a “One to Many” campaign writing a letter to directors who have claimed R&D tax relief,...

February 2023

Capital allowances – construction of hydro electric power station – Supreme Court to hear appeal on 23 March 2023 – SSE Generation Ltd

13 February 2023
HMRC’s appeal against the Court of Appeal’s judgment in respect of HMRC v SSE Generation Ltd  EWCA Civ 105 has been listed...

February 2023

HMRC webinars and video training – employers (general update) and advisers (super-deduction capital allowance)

10 February 2023
HMRC have added/updated the following training resources: HMRC email updates, videos and webinars for employing people – A link to...

February 2023

Tory MP calls for more capital allowances to support the green agenda

10 February 2023
Conservative MP Peter Aldous has suggested that more attractive capital allowances are needed to underpin the country’s commitment to net...

February 2023

Plastic packaging tax – Pay Plastic Packaging Tax – HMRC update guidance

9 February 2023
HMRC have updated their guidance Pay Plastic Packaging Tax. The guidance has been updated to note that a taxpayer will...

February 2023

Gambling duty – HMRC update guidance

8 February 2023
HMRC have updated the following guidance: Pay General Betting, Pool Betting or Remote Gaming Duty guidance; and Pay Gaming or...

February 2023

VAT and corporation tax – personal liability notices upheld – Malone v HMRC

8 February 2023
The First-tier Tribunal has found that there were deliberate inaccuracies and has therefore upheld personal liability notices in Malone v...

February 2023

Plastic packaging tax – records and accounts you must keep – HMRC update guidance

6 February 2023
HMRC have updated their guidance Records and accounts you must keep for plastic packaging tax. The guidance has been updated...

February 2023

ATT requests delay to R&D relief changes

3 February 2023
The Association of Taxation Technicians (ATT) has welcomed the report by the House of Lords expressing concern over proposed changes...

February 2023

Plastic packaging tax – how to change the group representative – HMRC update guidance

1 February 2023
HMRC have updated their guidance Register a group of companies for plastic packaging tax to include information about how to...

February 2023

R&D relief and expenditure credit – Lords report

1 February 2023
The Economics Affairs Finance Bill Sub-Committee has published its report on the R&D reforms that were included in the draft...

January 2023

VAT and CT assessments and penalties – “best judgement” basis challenged – WJE Ltd Kit Ling Chan   

30 January 2023
The First-tier Tribunal has rejected appeals against VAT and corporation tax assessments and the associated penalties made on a “best...

January 2023

Customs – HMRC update guidance on form JCL1 (Give Joint Contractual Liability (JCL) for a Customs Comprehensive Guarantee for potential debts)

30 January 2023
HMRC have updated the guidance for form JCL1 – Give Joint Contractual Liability (JCL) for a Customs Comprehensive Guarantee for...

January 2023

Customs – HMRC issue report on Accounting Officer assessment summary: Single Trade Window Programme

30 January 2023
HMRC have issued the report Accounting Officer assessment summary: Single Trade Window Programme. The report summarises the main points from...

January 2023

Plastic packaging tax – requirement for invoice disclosure abandoned

30 January 2023
When plastic packaging tax was introduced HMRC deferred the requirement to add obligatory wording to invoices confirming that PPT had...

January 2023

Customs – UK Trade Tariff: duty suspensions and autonomous tariff quotas – HMRC update guidance

26 January 2023
HMRC have updated their guidance UK Trade Tariff: duty suspensions and autonomous tariff quotas. The update is to remove fish...

January 2023

Customs – Customs Tariff (Establishment) (EU Exit) Regulations 2020 – HMRC update guidance

25 January 2023
HMRC have updated their guidance Reference Document for The Customs Tariff (Establishment) (EU Exit) Regulations 2020 https://www.gov.uk/government/publications/reference-document-for-the-customs-tariff-establishment-eu-exit-regulations-2020

January 2023

Customs – (Suspension of Import Duty Rates) (EU Exit) Regulations 2020 – HMRC update guidance

25 January 2023
HMRC have updated their guidance Reference Documents for The Customs Tariff (Suspension of Import Duty Rates) (EU Exit) Regulations 2020....

January 2023

Customs – HMRC update guidance on software developers providing customs declaration software

24 January 2023
HMRC have updated their guidance Software developers providing customs declaration software. The guidance is to enable taxpayers to check a list...
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Latest articles (all topics)

  • VAT – Making Tax Digital – agents
  • Payroll – annual reports and tasks – HMRC webinar
  • IHT400 – minor update to guidance
  • East Midlands freeport now fully operational
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