NEWS

Recent developments in tax.

The CIOT has responded to HMRC’s consultation Reporting rules for digital platforms on the implementation of the OECD model reporting rules. The rules will require digital platforms to report details of the income of sellers on their platform to the...

HMRC has launched a consultation seeking public views on draft regulations for the new tax checks on licence renewal applications in England and Wales. The draft regulations set out the administrative process for tax checks, covering how HMRC will...

The Inheritance Tax (Delivery of Accounts) (Excepted Estates) (Amendment) Regulations, SI 2021/1167 extend a number of the limits for qualifying excepted estates so that, from 1 January 2022, over 90% of non-taxpaying estates will not have to deliver...

HMRC has confirmed that it will not be enforcing the current 30-day reporting deadline for updating trust details on the trust registration service. The UK government intends to legislate to increase the deadline to 90 days later this year.In...

The Treasury has issued the following two sets of regulations to amend the principal VAT legislation dealing with the special arrangements for Northern Ireland following the end of the Brexit transition period, to ensure the rules operate as intended...

HMRC has published further new and updated guidance for imports, exports and customs to reflect the post-transition period regime:Claiming tariff quotas to reduce import duties: new guidance on claiming tariff quotas to reduce import duties.UK Trade...

The Platform for collaboration on tax (PCT) has published a new report Platform for collaboration on tax progress report 2021 summarising the progress of the PCT Partners (International Monetary Fund, OECD, United Nations and World Bank) on their...

Mexico and Rwanda have joined the Punta del Este Declaration and Yaoundé Declaration respectively – regional initiatives for tax transparency and exchange of information for tax purposes.The Punta del Este Declaration brings together 14 countries in...

In a written statement to Parliament, Lucy Frazer, Financial Secretary to the Treasury, has confirmed that Finance Bill 2022 will be published on 4 November 2021.Explanatory Notes will be published alongside the Bill, as usual, and the Budget...

The Health and Social Care Levy Act 2021 received Royal Assent on 20 October 2021.The Bill received one day of scrutiny in the House of Commons and was passed without amendment. Although the House of Lords had no power to amend the Bill (being a...

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