Tax

Contact: Adam Craggs

Tax

HMRC VAT Registration Estimator tool

On 10 July 2024, HM Revenue and Customs (HMRC) announced the launch of the VAT Registration Estimator tool, which businesses can use to evaluate the impact that registering for VAT may have on their activity and to check whether they meet turnover requirements for VAT registration. The tool is digital and free to use, and HMRC will not store the details that are used in the estimator.

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New Carbon Border Adjustment Mechanism (CBAM) updates

In August, the EU Commission published new updates to its "Questions and answers" document on the EU CBAM. These updates crucially regard sourcing data from suppliers, and how "free allowances" should be factored into the CBAM liability calculations. Businesses will be required to liaise with suppliers to obtain data needed for the next CBAM report due in October 2024.

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Tax

HMRC's guidance on the rules for digital platforms

On 1 August, HMRC published guidelines surrounding the rules for online marketplaces to collect and report information regarding vendors on their platforms. This follows the UK's sign up to the Organisation for Economic Co-operation and Development (OECD) Model Reporting Rules for Digital Platforms, which took effect in the UK from 1 January 2024. An app or website counts as a digital platform if it both connects sellers to customers to supply goods or services, and if information on the amount paid to sellers is known or can easily be found. Platforms including those used for food delivery, taxi booking, sourcing freelance work and short-term accommodation lettings, are captured by the rules – if your organisation is a reporting platform operator under UK law, it will need to report the necessary data relating to the sellers to HMRC.

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Beyond the Radar masterclass
Mastering the dawn raid: an interactive response workshop
18 September

Themed "navigating changing regulation", our Beyond the Radar event on 18 September will be a deep dive into the regulatory landscape and the key themes emerging from our research.

We will be holding a series of masterclass sessions, including, Mastering the dawn raid: an interactive response workshop. Led by Adam Craggs, Michelle Sloane, Gavin Reese and Tom McQuail, our immersive seminar on managing regulatory dawn raids will prepare you for the unexpected. This session dives deep into the mechanics of a dawn raid, featuring a live simulation that puts you at the heart of the action. Gain first hand experience with a step-by-step walkthrough of a raid timeline, learn key preparatory strategies, and essential immediate responses. Equip your team with the knowledge and confidence to effectively manage a dawn raid, ensuring compliance and minimising business disruption.

Following the masterclasses, you will have the opportunity to hear from our expert panel as they debate key challenges faced by in-house legal teams and regulatory bodies, and explore how businesses can best prepare to effectively navigate changing regulation.

Register here