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Latest Trusts and Inheritance Tax News

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Finance Bill to receive Royal Assent on 10 January 2023

The Autumn 2022 Finance Bill has been scheduled to receive Royal Assent on Tuesday 10 January 2023.

06 Jan 2023 00:00 | Published by a Tolley Corporation Tax expert

HMRC yearly average and spot rates

HMRC has published its updated list of yearly average and spot foreign exchange rates for the year to 31 December 2022.

06 Jan 2023 00:00 | Published by a Tolley Corporation Tax expert

Agent Update: issue 103

HMRC has published Agent Update issue 103 (December 2022) providing a round-up of recent developments and changes to legislation and allowances relating to UK tax for tax agents and advisers

22 Dec 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC updates interest rates following Bank of England decision

HMRC is increasing the late-payment rate of interest to 6%, and the repayment rate to 2.5%, from 6 January 2023. Interest on quarterly instalment payments of corporation tax is also increased from 26 December 2022.

20 Dec 2022 00:00 | Published by a Tolley Corporation Tax expert

Spring Budget 2023 date announced

The Chancellor has announced that the Spring Budget 2023 will be on 15 March 2023.

19 Dec 2022 00:00 | Published by a Tolley Corporation Tax expert

Scottish Budget outlines increases to higher rates of income tax

John Swinney, Deputy First Minister, delivered the Scottish government’s 2023–24 Budget on 15 December 2022.

16 Dec 2022 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 12 December 2022

12 December 2022 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

12 Dec 2022 00:00 | Published by a Tolley Corporation Tax expert

Updated HMRC guidance on reporting an excepted estate for Inheritance Tax

HMRC has confirmed that form IHT205 will not be available via the online service after 31 December 2022.

02 Dec 2022 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

House of Commons Committee reports adoption of government amendments to Economic Crime and Corporate Transparency Bill

The House of Commons Public Bill Committee has reported the adoption of government amendments to the Economic Crime and Corporate Transparency Bill (the Bill). The Committee has also reported the withdrawal of amendments in the name of Dame Margaret Hodge proposing an offence of failure to prevent fraud or money laundering.

02 Dec 2022 00:00 | Published by a Tolley Corporation Tax expert

Brazil: tax treaties

The text of the 2022 UK-Brazil Double Taxation Convention has been added to the HMRC tax treaties page.

30 Nov 2022 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 28 November 2022

28 November 2022 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

28 Nov 2022 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Updated HMRC Inheritance Tax account (IHT100)

HMRC has updated its guidance in relation to the submission of form IHT100 without a wet signature.

25 Nov 2022 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Updated HMRC  Inheritance Tax account (IHT400)

HMRC has updated Inheritance Tax account (IHT400) regarding submission of documents.

24 Nov 2022 00:00 | Published by a Tolley Trusts and Inheritance Tax expert

Treasury publishes Autumn Finance Bill 2022

On 22 November 2022, HM Treasury published the Autumn Finance Bill 2022 legislating for key tax changes announced by the Chancellor at the Autumn Statement 2022 on 17 November 2022.

23 Nov 2022 00:00 | Published by a Tolley Corporation Tax expert

HMRC publishes tax information and impact notes

HMRC has published several tax information and impact notes (TIINs).

22 Nov 2022 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 21 November 2022

21 November 2022 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

21 Nov 2022 00:00 | Published by a Tolley Corporation Tax expert

Update on the closure of the Office of Tax Simplification

The Office of Tax Simplification (OTS) has announced that its formal closure will take effect when the Spring Finance Bill 2023 receives Royal Assent.

18 Nov 2022 00:00 | Published by a Tolley Corporation Tax expert

Autumn Statement 2022 brings forward tax increases

Chancellor Jeremy Hunt delivered his Autumn Statement 2022 on 17 November 2022, setting out proposals to address a £55bn gap in the UK’s finances, with half of that amount being raised through increased taxation.

17 Nov 2022 00:00 | Published by a Tolley Corporation Tax expert

Updated HMRC guidance on Alternative Dispute Resolution

HMRC has updated its guidance on using Alternative Dispute Resolution (ADR) to settle a tax dispute at section.

14 Nov 2022 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 14 November 2022

14uk November 2022 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

14 Nov 2022 00:00 | Published by a Tolley Corporation Tax expert

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Substantial shareholding exemption ― overview

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