5 May 2022 • 2 minute read
Country-specific updates: UK
- HMRC has been sending email reminders, including links to updated guidance for businesses to perform checks to see if they are liable for Plastic Packaging Tax that has come into force from 1 April 2022. The businesses are also now able to register for Plastic Packaging Tax using the online government gateway.
- HMRC has published high-level guidance to explain businesses how to notify HMRC of Uncertain Tax Treatment, including a link to the relevant form. Note that the measure took effect from 1 April 2022. It is intended to promote early identification and disclosure to HMRC of tax uncertainties by large businesses in scope. Businesses within scope need to consider whether they have an uncertain tax position / amount (create a tax advantage that exceeds a £5 million de minimis threshold) that is potentially notifiable to HMRC.
- Where a business appoints a VAT agent, they must now use a new 64-8 agent authorisation form to give authorisation for agents to deal directly with HMRC on behalf of the business. Existing businesses don’t need to re-authorise their current relationship. HMRC is planning to phase out the current 64-8 form from Autumn 2022 and they will communicate when they only accept the new version of the 64-8 and any older versions received will be rejected.
- Due to technical issues with older postponed import VAT statements not being available automatically, HMRC has notified that they will publish an alternative method for accessing statements older than 6 months for businesses.
- Reminder that HMRC’s consultation on the proposal for an online sales tax (OST) is closing on 20 May 2022. OST intends to rebalance the taxation of the retail sector between online and in-store retail and the consultation is to explore the different forms an OST could take and issues around how to define an online sale, the potential impacts of implementing such a tax. Stakeholders can submit views to HMRC by email to: OSTconsultation@hmtreasury.gov.uk
- Reminder that VAT registered businesses with taxable turnover below the registration threshold will also now need to follow the Making Tax Digital rules from 1 April 2022. Note that only businesses that exceeded the threshold were previously required to follow the Making Tax Digital rules.
