NEWS

The National Insurance Contributions Act 2022 (Application of Part 1) Regulations, SI 2022/307 ensure that the veterans and freeport secondary Class 1 NICs reliefs will apply where an employment is eligible for multiple rates of NICs, but where HMRC...

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors. Direct taxesManual Page Comments Capital Gains Manual Updated: CG13026...

The OECD has also published its much-awaited commentary to the global base erosion (GloBE) model rules (pillar two), providing more than 220 pages of guidance on the interpretation and application of the rules for tax administrations and taxpayers,...

European finance ministers have reached agreement on the general approach for the carbon border adjustment mechanism (CBAM) regulation, which is one of the key elements of the EUs fit for 55 package. Sufficient progress still...

EY reports recently seeing several similar HMRC information requests issued to businesses asking for details about potential super-deduction claims. According to EY: The questions are very generic and have been typically sent to companies with...

The Economic Crime (Anti-Money Laundering) Levy Regulations, SI 2022/269, provide for the assessment, payment, collection and recovery of the economic crime (anti-money laundering) levy which was introduced in FA 2022 Part 3 and will first be charged...

HMRC’s Stakeholder Digest (11 March 2022) highlights the following: Help for organisations sending humanitarian aid to Ukraine: organisations moving goods designated as humanitarian aid from the UK to support those affected by the humanitarian crisis...

The National Insurance Contributions Act 2022 and the Economic Crime (Transparency and Enforcement) Act 2022 both received Royal Assent in the early hours of Tuesday 15 March 2022....

The OECD has published the comments it received in response to its consultation on draft rules for calculating profits (or losses) of in-scope MNEs which will be used to determine the amount to be reallocated.Respondents have commented on a wide...

HMRC has published further new and updated guidance for imports, exports and customs to reflect the post-transition period regime:Customs (Import and Export Declarations) (Amendment) Regulations, SI 2022/271: provide for certain goods being exported...