Issue 1578

Analysis

• The VAT review for June 2022
• Tax and the City review for June 2022
• Mainly ignored? The main purpose test for SDLT group relief
• Long live the Queen: tax practice at the start of her reign
• Events, dear boy: tax and the economy during the Queen’s reign
• The impact of war in Ukraine and Russian sanctions: a UK tax adviser’s guide
• Register of overseas entities

In brief

• Tax as a governance matter in 2022
• What does the energy profits levy mean for the UK energy sector?
• Why chancellors rarely become prime ministers

News

• HMRC manual changes: 10 June 2022
• Super-deduction guidance
• Chancellor announces energy profits levy
• Pension schemes newsletter 139
• HMRC unclear on scale of offshore tax evasion
• Tax data from low-tax jurisdictions
• China ratifies multilateral instrument
• Comments published on financial services exclusion
• Tax certainty consultation
• Exports to support Ukraine
• MTD for VAT: how to avoid penalties
• VAT test for business activities
• The policy of promoting owner-occupation is not consistent, says CIOT
• More flexibility required on basis period reform, says Law Society
• HMRC questions BADR claims
• Alternative finance tax rules extended
• Derivatives used to hedge share transactions

Cases

• The Tower One St George Wharf Ltd v HMRC
• Whispering Smith Ltd v HMRC
• Johnson and another v HMRC
• Other cases that caught our eye: 10 June 2022

One minute with

• One minute with... Kate Worthington

Trackers

• HMRC manual changes: 10 June 2022