Category: News

HMRC has published instructions for businesses and individuals required to file Other Interest returns, detailing the process for submitting data either through the agency’s spreadsheet template or as an electronic flat text file. The guidance covers the technical requirements and steps needed to ensure returns are completed accurately and submitted in the correct format. This applies to taxpayers with reporting obligations related to interest income or payments that fall under the Other Interest classification.

Source: HMRC (GOV.UK) – Read the original

HMRC has published guidance for insurers on how to report chargeable event gains arising from life insurance policies. The guidance covers the reporting requirements for these gains and includes information on annual qualifying policies. This affects insurance providers who must comply with the reporting procedures for chargeable events under UK tax legislation.

Source: HMRC (GOV.UK) – Read the original

HMRC maintains a register of authorised ISA managers that has been in effect since October 2014. The list identifies financial institutions approved to manage ISAs on behalf of UK savers. This guidance enables customers and compliance professionals to verify whether an ISA provider holds the necessary HMRC approval. The register is regularly updated as new managers receive approval or existing approvals change.

Source: HMRC (GOV.UK) – Read the original

HMRC has released the Apprenticeship Levy Manual, which sets out the rules governing the levy that applies to employers with a paybill above a defined threshold. The guidance covers how the levy operates, who must pay it, and the obligations employers face in calculating and reporting the charge. This resource is designed to help employers understand their compliance responsibilities and manage their levy liabilities effectively.

Source: HMRC (GOV.UK) – Read the original

HMRC has made its Non-Statutory Clearance Service accessible to all customers and their trade advisers. This service allows businesses and representatives to seek informal guidance on customs and trade matters before formal declarations or transactions occur. The clearance process helps organisations understand HMRC’s position on specific circumstances without committing to a formal ruling. Customers can use this service to clarify their compliance obligations and reduce uncertainty around customs procedures.

Source: HMRC (GOV.UK) – Read the original

HMRC requires employers to submit form AAG8 at year-end to disclose information about employees involved in tax avoidance arrangements. This notification form applies to employers who need to report details of any avoidance schemes in which their staff have participated. The AAG8 filing ensures HMRC receives required information about potentially non-compliant tax arrangements involving employees.

Source: HMRC (GOV.UK) – Read the original

UK businesses must disclose avoidance schemes relating to VAT, indirect taxes, direct taxes, Apprenticeship Levy and National Insurance contributions to HMRC under mandatory disclosure rules. The rules set out what constitutes a reportable avoidance arrangement and the timescales for notification. Failure to disclose qualifying schemes can result in penalties being applied to the business involved.

Source: HMRC (GOV.UK) – Read the original

Taxpayers who have participated in Annual Tax on Enveloped Dwellings avoidance schemes must use form AAG4(ATED) to notify HMRC of their assigned scheme reference number. This disclosure form enables the tax authority to track and record individuals and entities engaging in tax avoidance arrangements related to ATED liabilities. The form represents a mandatory reporting requirement for anyone who has been issued a scheme reference number by their tax avoidance promoter.

Source: HMRC (GOV.UK) – Read the original

HMRC has published guidance setting out which forms businesses and professionals must use when disclosing tax avoidance schemes under mandatory reporting rules. The guidance covers different scenarios and circumstances where disclosure obligations apply. Organisations involved in designing, implementing or promoting tax avoidance arrangements should refer to this guidance to ensure they use the correct reporting forms. Failure to disclose reportable schemes can result in penalties.

Source: HMRC (GOV.UK) – Read the original

HMRC has released draft interim guidance and legislation to help employers prepare for mandatory real-time reporting of benefits in kind and expenses through payroll software starting April 2027. The new requirement will shift how companies report BiKs and expenses, moving from historical reporting to a system integrated with payroll processing. This change affects all employers providing benefits in kind to employees and requires advance planning to ensure payroll systems can accommodate the reporting obligations within the specified timeframe.

Source: HMRC (GOV.UK) – Read the original