Issue 1514

Analysis

• The key tax issues for 2021
• The EU/UK TCA: tax and customs
• The VAT changes to GB imports and online marketplace burdens
• The Wealth Tax Commission’s final report

In brief

• DAC 6 restricted
• Key post-Brexit tax and customs changes
• Tax reform for UK fund vehicles
• Development Securities and company residence

News

• HMRC manual changes: 8 January 2021
• UK to replace DAC 6 with OECD mandatory disclosure rules
• Self-assessment late filing penalties
• Corporate interest restriction: penalties
• State aid: changes for UK tax law
• MTD exclusions
• Furlough and business loan schemes extended
• Taxation of asset-holding companies
• R&D: new CT600L
• NICs disregard for covid tests
• NIC disregard for covid isolation payments
• Brexit: access to tax credits
• Implementation of VAT changes
• VAT, customs and excise rules
• VAT changes for NI
• VAT retail export scheme
• New HMRC Notices
• VAT: sales of overseas goods
• VAT: transactions straddling 1 Jan 2021
• VAT grouping consultation response
• NI customs and excise duties regulations
• Further customs regulations
• General guarantee account
• Land transaction tax rates and bands
• Landfill disposals tax rates
• Business rates relief repayments
• Pillars one and two blueprints raise heavy admin burden, says CIOT
• New OECD transfer pricing guidance
• Hard-to-value intangibles
• Transparency on tax rulings
• Double tax treaties review
• EU/UK Trade and Cooperation Agreement
• European Union (Future Relationship) Act 2020
• Spring Budget 2021
• Royal assent to new Acts
• Follower notices and penalties
• Disguised remuneration scheme
• New HMRC powers are disproportionate, says Lords
• HMRC manual changes: 6 January 2021
• HMRC guidance: 6 January 2021

Cases

• HMRC v Development Securities plc
• Gallaher Ltd v HMRC
• Fenix International Ltd v HMRC
• Regency Factors plc v HMRC
• Other cases that caught our eye: 8 January 2021

One minute with

• One minute with... Peter Rayney

Practice guides

• Tolley spotlight: In-house tax