Technical News

 


The CIOT wrote to HMRC in respect of the correct accounting for bad debt relief for VAT payments on account businesses, where they had both part paid and part deferred the total VAT due in a VAT quarter during the VAT return deferral period of 20 March to 30 June 2020. 

HMRC has provided us with an update in relation to its digital services.

The government has published further information on what the Northern Ireland Protocol means for moving goods into and out of Northern Ireland. At the heart of the guidance is the commitment to provide extensive support for businesses engaging in new processes. In particular, the government will establish a new Trader Support Service.

HMRC has published two documents to explain how it works with individuals and businesses that owe tax, including what they can do if customers are unable to pay the tax they owe, or refuse to pay it. 

HMRC have updated the Residence, Domicile and Remittance Basis Manual with a Q&A concerning international tax and coronavirus (COVID-19) at Annex D.

HMRC have provided a list of Q&As to the most commonly asked questions during their MTD for ITSA webinar held on 29 July 2020.

This update provides information about the letters and the certificate of tax position, together with some guidance to help members decide the most appropriate way to respond if a client receives one of the letters from HMRC.

HMRC have reviewed a comprehensive article by ATT on all aspects of updating the TRS, including potential problems and how to overcome them. 

HMRC has published guidance today for the new postponed VAT accounting rules for imports into the UK from EU and non-EU countries. Taxpayers do not need to apply for the scheme.