UK Tax Intelligence
The week in UK tax.
Curated from 120+ sources. Every Friday morning.
HMRC has updated guidance on customs debt liability, clarifying when businesses become liable for customs duties and how debt recovery operates. This affects VAT/customs compliance obligations for practices advising import/export clients.
HMRC is consulting on increasing the Electricity Generator Levy rate, which directly affects energy-generating businesses' tax liabilities and compliance obligations. Practitioners need to monitor consultation outcomes to advise clients on revised levy calculations and cash flow planning.
HMRC has increased Approved Mileage Allowance Payments (AMAPs) and self-employed simplified mileage rates, effective from a specified date. Practitioners must update payroll systems and advise clients on revised allowable mileage claims to ensure correct tax treatment.
HMRC is consulting on a proposed 12-month Vehicle Excise Duty holiday for heavy goods vehicles. This affects clients operating HGVs and their vehicle tax planning, though the consultation stage means no immediate compliance obligation.
UK investors in US LLCs face double taxation due to mismatched treatment between UK and US tax systems, where the US treats LLCs as transparent entities while the UK may treat them as opaque. This creates significant compliance complexity and tax inefficiency for affected clients requiring careful structuring and potential election strategies.
HMRC has published guidance on consequences of non-payment of tax bills, including recovery actions, interest, and penalties. Practitioners must understand these enforcement mechanisms to advise clients on payment obligations and consequences.