Issue 1575

Analysis

• 20 questions: HMRC’s civil and criminal powers
• Tax and the City review for May 2022
• The VAT review for May 2022
• Back to basics on transfer of assets abroad

In brief

• Indirect effects: the fly in the flapjack?
• How to avoid UK tax if you're an oligarch

News

• HMRC manual changes: 13 May 2022
• Treasury ‘kickstarts a conversion’ on reforming capital allowances
• HMRC Trusts and Estates Newsletter
• HMRC derecognises Moscow stock exchange
• Penalties for inaccuracies in interest restriction returns
• GAAR panel opinion on employee reward scheme
• HMRC interest rates start to bite
• Queen’s Speech outlines government priorities
• Amount A: regulated financial services exclusion
• Further GB border controls postponed
• VAT penalties and interest from 2023
• Updated Notice 700: the VAT guide
• Pension lump sums disregarded for tax credits
• Format of employment expenses claims
• CIS: landlord contributions to tenant works

Cases

• JTI Acquisition Company (2011) Ltd v HMRC
• A Beard v HMRC
• Hexagon Properties Ltd v HMRC
• Other cases that caught our eye: 13 May 2022

One minute with

• One minute with... Jane MacKay

Trackers

• HMRC manual changes: 13 May 2022