NEWS

HMRC has published new guidance on how sellers and online marketplaces will need to deal with VAT for goods from overseas that are sold to customers in Great Britain from 1 January 2021. The guidance covers a range of related matters, including goods...

The International Tax Compliance (Amendment) (No. 2) (EU Exit) Regulations, SI 2020/1300, amend the International Tax Compliance Regulations, SI 2015/878 which give effect to agreements and arrangements reached between the UK and other jurisdictions...

The OECD Secretary-General has published his report to the November 2020 meeting of G20 leaders in Saudi Arabia. The report covers the tax challenges arising from the digital economy (including a progress update on the two pillars), an update on the...

The outcome of the 2020 reviews by OECD Forum on Harmful Tax Practices (FHTP) shows evidence of jurisdictions making progress in countering harmful tax practices, as contemplated in the BEPS Action 5 Minimum Standard, according to the OECD. The 2020...

The OECD/G20 Inclusive Framework on BEPS (Inclusive Framework) has launched a consultation seeking public comments on the 2020 review of BEPS Action 14 (making dispute resolution mechanisms more effective). This consultation focuses on the mutual...

The CIOT has responded to the House of Lords Economic Affairs Finance Bill sub-committee inquiry into the draft Finance Bill legislation for FA 2021, highlighting the following:Although the Government is right to take a robust approach towards...

Excise Notice CCL1/3: Climate change Levy: reliefs and special treatments for taxable commodities: updated at section 6.9 to set out the situations where HMRC will issue a direction to treat a landlord as a directed utility, such that...

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: CG60310 Updated Reliefs:...

The permanent Secretary at HM Treasury, Sir Tom Scholar, has confirmed that the next Budget will be held in March 2021. The confirmation was made during a Public Accounts Committee meeting. The precise date is not yet to be announced....

The Office of Tax Simplification (OTS) has published its first report as part of the capital gains tax review undertaken at the chancellors request to identify opportunities relating to administrative and technical issues as well as...