Issue 1619

Analysis

• The reserved investor fund regime: restricted or unrestricted, that is the question
• The electricity generator levy: an introduction
• HMRC consultation on the taxation of DeFi transactions
• The UK’s international disclosure rules: where are we now?
• Private client review for May 2023

In brief

• Industry view: RIF will plug an important gap
• VAT on beverages: the four part test
• Faiers: SDLT and multiple dwellings relief
• New HMRC guidance on ‘unallowable purpose’

News

• HMRC manual changes: 19 May 2023
• One in five taxpayers set to pay higher-rate of income tax by 2027/28, IFS reports
• HMRC revises guidance on unallowable purpose test
• New option to elect into tonnage tax
• Community investment tax relief extended
• Tax regime needs to be tailored to cryptoasset transactions, says CIOT
• HMRC consults on PPT tax credits
• Further government amendments to Finance (No 2) Bill 2023
• Government agrees (mostly) with PAC Covid compliance report
• Retained EU law sunset clause shelved
• HMRC updates Standard for Agents
• HMRC reply checker tool expanded
• HMRC confirms extension of SMS service

Cases

• Spring 2023 review

One minute with

• One minute with... Sarah Gabbai

Trackers

• HMRC manual changes: 19 May 2023