NEWS

HMRC’s Stamp Taxes Newsletter for January 2022 covers the following:new Draft Stamp Duty and Stamp Duty Reserve Tax statutory instrument which will update the tax rules in relation to securitisation and insurance-linked securities arrangementsnew...

Businesses in the UK are transforming to future-proof their tax functions against mounting challenges to the way they operate, according to the latest EY tax and finance operations survey, Realising the value of your tax and finance function. The...

Highlights from HMRC’s pension schemes newsletter 136 include the following:Normal minimum pension age increase from 55 to 57 from 6 April 2028: notes on the 2028 protection framework.HMRC will continue to accept various scanned relief at source...

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: CG99998, CG-APP18 ...

The UK government has launched a consultation on the implementation and administration in the UK of the OECD pillar two framework, following publication of the OECD pillar two model rules in December 2021.The consultation focuses on two charging and...

The Business at OECD group (BIAC) has written to the OECD working party 11 on aggressive tax avoidance, setting out a number of ‘policy issues’ which it believes ‘may mean that the Model Rules cannot achieve their intended purpose’. BIAC raises the...

The chancellor has announced additional support for businesses impacted by the omicron variant including the following:businesses in the hospitality and leisure sectors in England will be eligible for one-off grants of up to £6,000 per premises;more...

HMRC is reviewing how businesses reclaim VAT on the cost of charging electric vehicles.HMRC’s VAT Brief 1 (2022) Reviewing how to claim VAT when charging electric vehicles for business purposes announces a review of how VAT is reclaimed on the cost...

HMRC has published the yearly average and spot exchange rates for 31 December 2021....

HMRC has published further new and updated guidance for imports, exports and customs to reflect the post-transition period regime: The Free Zone (Customs Site No 1 Thames) Designation Order, SI...