HMRC has published a VAT Information Sheet which sets out its policy on how VAT is applied to the construction of buildings that keep or make use of parts of a building that previously stood on, or was adjacent to, the site where the works of construction are taking place.
HMRC has set out its position on the tax treatment of income received from, and charges made in connection with, activities involving Bitcoin and other similar cryptocurrencies, specifically for VAT, Corporation Tax (CT), Income Tax (IT) and Capital Gains Tax (CGT)
HMRC have revised their deemed domicile rules for Income Tax and Capital Gains Tax which came into effect from April 2017.
HMRC has published details relating to the number of completed tax returns submitted before the 31 January deadline, the majority of which were done through their online portal.
The government has set up the new Office for Professional Body Anti-Money Laundering Supervision (OPBAS) to be the new regulator to strengthen the UK’s anti-money laundering (AML) supervisory regime and ensure the professional body AML supervisors provide consistently high standards of AML supervision.
HMRC has delayed the introduction of Making Tax Digital (MTD) however, from April 2019 VAT will be leading the way.
HMRC has published new guidance supporting the Serial Tax Avoidance Regime (STAR) legislation which explains what will happen if you use tax avoidance schemes that are defeated through the courts.
Does your business purchase goods from other EU countries? Will the VAT implications of Brexit impact on your cashflow or actually cost you money?
In its efforts to clampdown on tax avoidance and evasion, HMRC has updated its tax standard document for accountants and agents so that is more explicit in stating that they must not promote artificial tax planning arrangements that exploit gaps in legislation.
Whilst HMRC hasn’t published New Year resolutions (at least that we know of) it’s worth taking a look at its ‘single departmental plan’ which gives an overview of the department’s priorities for the coming year.