Agent Update 62: Latest news for tax agents from HMRC

Latest bi-monthly round up of developments in tax has been issued.

In Agent Update 62 HMRC highlights the top articles as:

Other articles of interest include:

Compliance Updates – There are several updates on compliance issues

  • Information on the Fulfilment House Due Diligence Scheme which is coming in April 2018. Businesses that store any goods imported from outside the EU on behalf of others will need to apply to be approved by HMRC.
  • HMRC has also included a link to two new tax avoidance schemes currently in the spotlight.
  • There is an article on tax and duty fraud and why agents should take an interest in this area due to new legislation on corporate failure to prevent criminal facilitation of tax evasion.

Changes to UK GAAP – HMRC is drawing agent’s attention to its guidance on changes to UK GAAP.

Company tax returns and iXBRL - From 1 November 2017 HMRC will reject all returns with accounts or tax computations that are not in iXBRL format unless the directions under SI 2003/282 allow otherwise or a dispensation has been granted by HMRC. See the separate Tax Faculty news item

Automatic enrolment: There is a reminder that, from 1 October 2017, automatic enrolment duties for new employers begin on the day their first member of staff starts work.

Self assessment calculation issues:  An update to self assessment software for 2016/17 to fix some calculation issues went live on 23 October 2017.

Trust registration service: The trust registration service is now available to agents through the link register your trust online. The Tax Faculty has published two news items: one on the service going live and one with frequently asked questions which HMRC has been unable to publish on

Working Together – Working Together is now through the HMRC agent forum and the activities of the Issues Overview Group. Members are encouraged to join and participate in the agent forum. There is to be a Talking Points webinar about the forum on Tuesday 21 November.