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10 January 2022 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

The Chancellor of the Exchequer has commissioned the Office for Budget Responsibility to produce an economic and fiscal forecast for Wednesday 23 March 2022.

The Welsh Parliament is consulting on a Bill to give Welsh ministers powers to modify the Welsh Taxes Acts for various purposes.

Tunisia has committed to implement the international Standard for Automatic Exchange of Financial Account Information in Tax Matters (AEOI) by 2024, which makes Tunisia the 121st Global Forum member to commit to start AEOI by a specific date, and the tenth African country to do so.

The CIOT has published the latest HMRC Stakeholder Digest (22 December 2021) which provides a round-up of the latest news and updates.

The European Commission has presented proposal of a Directive laying down rules to prevent the misuse of shell entities for tax purposes.

The European Commission has proposed a Directive ensuring a minimum effective tax rate for the global activities of large multinational groups.

In the ever-fast-moving world of tax announcements and developments, this news pulls together some of the key changes announced between 23 December 2021 to 4 January 2022. Our commentary will be updated in due course to reflect these latest developments.

HMRC has updated its Capital versus revenue expenditure toolkit for 2020-21.

The Chancellor has announced additional support for businesses impacted by the Omicron variant.

The OECD has published detailed rules to assist in the implementation of the landmark reform to the international tax system, which will ensure Multinational Enterprises (MNEs) will be subject to a minimum 15% tax rate from 2023.

HMRC has rewritten its factsheet on managing serious defaulters.

HMRC interest rates for late payments will be revised following the Bank of England interest rate rise to 0.25% from 0.1%.

20 Decemebr 2021 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

The OECD's Forum on Tax Administration (FTA) held its 14th Plenary meeting on 16-17 December 2021, bringing together tax commissioners from across the globe as well as representatives from international organisations and regional tax administration bodies to discuss top-of-mind tax administration issues including the implementation of the landmark Two-Pillar Solution, lessons learned from the ongoing responses to the global COVID-19 pandemic, digital transformation and capacity building.

The Office of Tax Simplification (OTS) has published an evaluation update paper following its reviews ‘Simplifying everyday tax for smaller businesses’ and â€˜Taxation and Life Events: Simplifying tax for individuals’.

The UK has agreed a protocol to the existing double taxation agreement with Taiwan (SI 2002/3137 (‘the Agreement’)). The protocol is set out in The Double Taxation Relief and International Tax Enforcement (Taiwan) Order 2021, SI 2021/1447.

HMRC has published Agent Update issue 91 (December 2021) providing a round-up of recent developments for tax agents and advisers.

The government has proposed amendments to Schedules 2 (qualifying asset holding companies) and 15 (notification of uncertain tax treatment). Government amendments to clause 28 (diverted profits tax) were passed on 1 December.

The Seychelles has deposited its instrument of ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (Multilateral Convention or MLI). Iceland has also deposited a new notification under the MLI.