Corporate Interest Restriction Return – Application Programming Interface (API) Launch

HMRC is changing the way that it will be receiving Corporate Interest Restriction Returns and is introducing 4 new Application Programming Interfaces (API). Corporate Interest Restriction (CIR) applies to corporate entities and aims to restrict a group’s deductions for interest expense and other financing costs for Corporation Tax purposes. In July’s Agent Update, we told you that HMRC has developed an API for submitting Interest Restriction Returns (IRR) and for reporting company appointments and revocations. We’re pleased to let you know that this is now ready and software developers have started to update their products using it. If you’d like…

Agent Update 87 has been published

Welcome to today’s blog promoting the publication of Agent Update: issue 87. In the Technical Updates and Reminders section we continue to bring you important COVID-19 updates, including the Coronavirus Job Retention Scheme. Other topics included are VAT reverse charge, Making Tax Digital, EU settlement scheme and basis period reform consultation. Some of the highlights in the HMRC Agent Services section include Agent talking Points and support for customers who need extra help. We hope you find this edition informative and don’t forget the next Agent Update is scheduled for September 2021. Did you know that you can receive email…

Legislation Day

  The government published draft legislation to be included in Finance Bill 2021-22 yesterday, alongside a number of consultation responses, consultations and various tax policy announcements. We are grateful to the agent community for your constructive comments and suggestions on these measures and welcome your ongoing scrutiny of the draft legislation and further areas we are consulting on. We’ve published: • a summary of responses and draft legislation on notification of an uncertain tax treatment by large businesses. We’ve made changes to the proposal based on the responses we received during a further period of consultation • a summary of…

Fitzrovia Noir CIC – broadening access to the arts

How and why Fitzrovia Noir became A CIC Five artists were concerned with the disappearance of local characteristics in a hidden corner of The City of Westminster. The redevelopment of the area resulted in the disappearance of these unique characteristics. Our first Outreach was to invite former staff and patients back into the neighbourhood’s 250 year old Middlesex Hospital as it was being demolished. We created portraits in the rubble of wards, corridors and theatres, collecting oral histories and rescuing ephemera. We built up a reputation with public galleries and educational institutions and it became necessary to find a vehicle…