HMRC has circulated details of the revised priorities for its digital transformation projects, needed principally to make room for work on upgrading customs systems in preparation for Brexit.
HMRC has published the following:
During the House of Lords debate on the Sanctions and Anti-Money Laundering Bill on 1 May, the government agreed to a new clause requiring the government to work with the British overseas territories to set up public registers of company beneficial ownership by 31 December 2020, and to legislate
The Insurance Companies (Taxation of Re-insurance Business) Regulations, SI 2018/538, update and replace the 1995 regulations concerning the taxation of investment returns from basic life assurance and general annuity business (BLAGAB), where life insurance companies re-insure this business, with
Workers in OECD countries paid just over a quarter of their gross wages in tax on average in 2017, with just over half of countries seeing small increases in the personal average tax rate, according to a new OECD report, ‘Taxing wages 2018’.
Statutory instruments were made covering arrangements with Bermuda, Kyrgyzstan, Mauritius and Cyprus:
HMRC has published the first report on its anti-money laundering supervisory activities and wider role in tackling financial crime, covering the two financial years from 2015 to 2017. The supervised sectors are:
The government is to suspend its rollout of simple assessment and real-time changes to PAYE tax codes, owing to problems encountered with both projects.