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United Kingdom

UK tax weekly: Scottish income tax changes, MTD ITSA deferred, key FTT rulings (VAT time limits, DOTAS penalties, pensions deregistration), compensation payments tax-exempt, and dates ahead of Spring Budget

Published on: 29 February 2024

Published by a LexisNexis Tax expert
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In this issue

  • Budget and Finance Bills
  • Individuals and income tax
  • Anti-avoidance
  • Taxes management and litigation
  • Employment taxes
  • Key developments
  • Environmental taxes
  • Daily and weekly news alerts
  • Dates for your diary
  • New and updated content
  • Trackers
  • Useful information

Budget and Finance Bills

Scottish Parliament approves the Scottish Budget

The Scottish Parliament has passed the 2024–25 Scottish Budget Bill, confirming changes to Scottish income tax, with fresh 45% and 48% rates for higher earners. See: LNB News 28/02/2024 20.

Spring Budget

As flagged in Tax weekly highlights—22 February 2024, the Chancellor, Jeremy Hunt, will present the Spring Budget on Wednesday, 6 March 2024. As usual, we will produce overnight analysis of the tax measures, ready on the morning of Thursday, 7 March. Our recent fiscal event coverage is available under the subtopic: 2023–24—Fiscal events including Budget.

Individuals and income tax

New Regulations reform Making Tax Digital for Income Tax requirements

The Income Tax (Digital Requirements) (Amendment) Regulations 2024, SI 2024/167 were made on 19 February 2024 and take effect on 14 March 2024. These amend the Income Tax (Digital Requirements) Regulations 2021, SI 2021/1076...

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