NEWS

This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.Direct taxesManual Page Comments Business Income Manual Updated: BIM85701 Updated the...

US Treasury Secretary, Janet Yellen, has urged G20 countries to agree a global minimum corporate tax rate.In an address to the Chicago Council on Global Affairs, Yellen said: We are working with G20 nations to agree to a global minimum...

The Treasury has concluded technical discussions on the text of the UK-EU Memorandum of Understanding (MoU), which was agreed in a Joint Declaration on Financial Services Regulatory Cooperation alongside the Trade and Cooperation Agreement.Once...

The OECD has announced that at the end of March 2021, twelve no-tax or only nominal-tax jurisdictions (Anguilla, Bahamas, Bahrain, Barbados, Bermuda, British Virgin Islands, Cayman Islands, Guernsey, Isle of Man, Jersey, Turks and Caicos Islands,...

The OECD has launched a consultation on proposed changes to the OECD Model Tax Convention commentary that acknowledges countries’ right to restrict interest deductibility through domestic law while affirming the importance of access to mutual...

The Trade Preference Scheme (EU Exit) (Amendment) Regulations, SI 2021/435 amend the Trade Preference Scheme (EU Exit) Regulations, SI 2020/1438 to correct typographical or similar errors but do not change or introduce new policy. The Trade...

HMRC has updated its guidance Complete your VAT Return to account for import VAT to highlight key problems importers encounter when trying to access their monthly VAT statements. HMRC is also aware of issues with January 2021 and February 2021...

HMRC has published new guidance Apply for a repayment of the non-UK Resident Stamp Duty Land Tax surcharge on when and how non-UK resident purchasers of property in England and Northern Ireland can apply for a repayment of the non-resident SDLT...

The new zero rate of secondary Class 1 NICs for businesses which employ armed forces veterans came into force on 6 April 2021 and applies to earnings between the secondary threshold and the upper secondary threshold (UST), with normal employer...

The Treasury launched the Recovery loan scheme on 6 April 2021. The scheme will provide financial support to UK businesses as they recover from the coronavirus pandemic. Businesses impacted by the coronavirus crisis will be able to access loans...