Five things you need to know about tax, 13 October 2023

In Irish news, CCAB-I sets out its concerns regarding the commercial impact of the revised tax treatment of GMS income of GPs in a submission to Revenue. In UK news, read our update in relation to the meeting last week with HMRC on the end of the VAT margin scheme for second-hand cars from 31 October. In International news, the OECD has reached agreement on the Pillar Two “Subject to Tax Rule”.

Ireland

1. The Institute, under the auspices of CCAB-I, has set out its concerns regarding the commercial impact of the revised tax treatment of GMS income of GPs in a submission to Revenue.
2. The September Exchequer returns indicate risk to the public finances as corporation tax falls behind target.

   UK

3. Read our update in relation to the meeting last week with HMRC on the end of the VAT margin scheme for second-hand cars from 31 October.
4. In this week’s miscellaneous updates, HMRC has issued a reminder about the end of the certificates of tax deposit scheme on 23 November 2023.

   International

5. The OECD has reached agreement on the Pillar Two “Subject to Tax Rule”.

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