Five things you need to know about tax, Friday 22 September 2023

In Irish news, the Minister for Finance publishes a roadmap for the introduction of a participation exemption and Revenue issue invitations to webinars on the new Enhanced Reporting Requirements for employers. In UK news, read our update on Making Tax Digital for Income Tax Self-Assessment and this week’s miscellaneous updates includes a request from HMRC for feedback on the impact that the recent closure of the Self-Assessment helpline has had on the work of agents. In International news, the European Commission publishes BEFIT and transfer pricing proposals.

 Ireland

1. The Minister for Finance has published a roadmap for the introduction of a participation exemption and has also launched a public consultation on the design of the proposed systems.
2. Revenue is issuing notices to agents’ and employers’ ROS inboxes, inviting them to register for webinars on the new Enhanced Reporting Requirements for employers.

   UK

3. Read our update on what’s been happening with Making Tax Digital for self-assessment.
4. This week’s miscellaneous updates includes a request from HMRC for feedback on the impact that the recent closure of the Self-Assessment helpline has had on the work of agents.

   International

5. The European Commission has published two key proposals in the past week; Business in Europe: Framework for Income Taxation (BEFIT) and harmonised transfer pricing rules.

Keep up to date with all the latest Irish, UK, and international tax developments through Chartered Accountants Ireland’s Tax Newsletter. Subscribe to the Tax News by updating your preferences in MyAccount. You can also read this week’s EU exit corner here.