Issue 1621

Analysis

• Back to basics: Section 260 holdover relief
• HMRC’s approach to purpose-based enquiries
• The first 100 days as a head of tax

In brief

• Canaries and tomtits: effective debt waiver
• BEPS Pillar Two: IFRS IAS 12 final amendments
• The TSC report on crypto: keep calm and carry on

News

• HMRC manual changes: 2 June 2023
• Ministers must resource HMRC properly, says new CIOT president
• EIS investment hits record high
• Tax exemption for MoD payments
• SAYE bonus rates mechanism reviewed
• Advisory fuel rates updated
• VAT regs for deposit schemes broadly welcomed
• Vietnam ratifies BEPS MLI
• Finance (No 2) Bill reported back
• Government consults on non-financial reporting
• HMRC publishes new guidance on the economic crime levy
• Updated guidance on trust registration
• Help to save extended
• Agent update: issue 108
• Tax checks for licence applications: updated guidance

Cases

• R (oao Airline Placement Ltd) v HMRC
• R Davies v Novatrust Ltd
• A Bhaur and others v Equity First Trustees (Nevis) Ltd and others
• Other cases that caught our eye 2 June 2023

One minute with

• One minute with... Fionnuala Lynch

Trackers

• HMRC manual changes: 2 June 2023