Welcome to our first newsletter for 2025 aiming to bring you the latest in financial news and updates. This month we focus on the following topics.

First our lead story:

HMRC DELAYS AGENT SERVICES ACCOUNT APPROVALS: HMRC has extended the processing time for agent services account (ASA) and VAT agent reference number applications to 40 working days – eight weeks – up from the previous 28 days.

This change applies from the date HMRC receives an application.  Applications for an ASA must be submitted in writing, as no online application process is available. Agents must have an existing HMRC online services account and at least one authorised client for self assessment, corporation tax, PAYE, or VAT to create an account.

An ASA is required for agents to access essential online tax services. These include Making Tax Digital for VAT and Income Tax Self Assessment, the online tax registration service, the Income Record Viewer, capital gains tax on UK

property, the trust registration service, and taxes like plastic packaging tax, multinational top-up tax (MTT), and domestic top-up tax (DTT).  The increased processing time highlights the need for HMRC to invest in modernising its digital services. An improved digital infrastructure could streamline applications and provide accountants with better tools to manage clients’ tax affairs.

For now, agents should account for the longer approval timeline when planning client services, particularly for new engagements requiring immediate online tax capabilities.

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And other stories:

17% RISE IN SCAMS TARGETING TAXPAYERS:  HMRC has urged taxpayers to be alert to scams as the self-assessment season picks up. Over the past year, nearly 145,000 scam attempts were reported, a 16.7% increase compared to the previous year.

1.1% GAMBLING LEVY PROPOSED FOR APRIL 2025: Licensed gambling operators could face a new levy from April 2025, calculated as a percentage of their Gross Gambling Yield (GGY).

GOVERNMENT WEBSITE TESTS CHATBOT FOR SMALL BUSINESSES: Two years after ChatGPT sparked a surge in artificial intelligence development, the Government has launched GOV.UK Chat, an experimental chatbot designed to deliver personalised, quick answers using information from relevant GOV.UK pages.

WANT TO TALK TO AN EXPERT? Call one of the team at Porter Garland Chartered Accountants for advice on any of your financial matters.  Or to keep reading, click this link: news_roundup_jan25 (1)

We’re waiting to hear from you. We can’t wait to be a part of your journey, so get in touch with us today, and let’s get to work.