17 August 2023
HM Revenue and Customs (HMRC) has released the August edition of the agent update. Similar to the employer’s bulletin, this newsletter brings updates and tips for agents more broadly.
Of not in the agent update is a whole section covering how to rectify payroll mistakes from previous tax years, this is especially important to understand when an EYU should and shouldn’t be used. For those who deal with global payroll on a regular basis, the social security coordination information will be incredibly important.
This edition covers topics under the headings:
Tax
- correcting payroll mistakes for an earlier tax year
- reporting of Electricity Generator Levy receipts
- Plastic Packaging Tax — Mass Balance Approach consultation
- Alcohol Duty new rates and reliefs introduced on 1 August 2023
- Capital Gains Tax on UK property paper return
- removal of country-by-country reporting notification requirement
- Research and Development (R&D) tax relief reform — updates
- overlap relief – preparing for the new tax year basis
- update on UK implementation of global tax reform
- reporting rules for digital platforms
EU Exit
- second-hand motor vehicles bought in Great Britain and moved to Northern Ireland before 1 May 2023 that are still held in stock
- UK signs Convention on Social Security Coordination with Iceland, Liechtenstein and Norway
Making Tax Digital
HMRC Agent Services
Details of live consultations and links to responses, changes to HMRC service and guidance, including:
- check if you need to complete a tax return
- National Minimum Wage
- changes to GOV.UK navigation in the autumn
- customs intermediaries voluntary standard consultation
- meeting the Public sector equality duty in compliance activity
- COVID-19 helpline
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