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HMRC Stakeholder Digest: 11 March 2022

HMRC’s Stakeholder Digest (11 March 2022) provides a round-up of the latest news and updates including information on sending humanitarian aid to Ukraine, setting up Self Assessment payment plans by 1 April and Electronic sales suppression (ESS).

14 Mar 2022 00:00 | Published by a Tolley Corporation Tax expert

SI 2022/269 The Economic Crime (Anti-Money Laundering) Levy Regulations 2022

These Regulations make provision about the assessment, payment, collection and recovery of the economic crime (anti-money laundering) levy.

14 Mar 2022 00:00 | Published by a Tolley Corporation Tax expert

Weekly roundup of HMRC manual changes: 14 March 2022

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

14 Mar 2022 00:00 | Published by a Tolley Corporation Tax expert

SI 2022/266 The Residential Property Developer Tax (Allocation of Allowance) Regulations 2022

These Regulations provide the technical requirements needed to allow HMRC to administer the allowance for the Residential Property Developer Tax (RPDT) in relation to groups of companies and joint ventures.

11 Mar 2022 00:00 | Published by a Tolley Corporation Tax expert

SI 2022/255 The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022

These Regulations implement the new authorisation and supervisory regime for collective money purchase schemes under Part 1 of the Pension Schemes Act 2021.

11 Mar 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

OECD: Botswana joins Yaoundé Declaration

Botswana joins the Yaoundé Declaration, an African Union initiative for transparency and exchange of information for tax purpose.

10 Mar 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

SI 2022/236 The Guardian’s Allowance Up-rating Regulations 2022

These Regulations make provision in consequence of the Tax Credits, Child Benefit and Guardian’s Allowance Up-rating Regulations, SI 2022/231 which provide for the annual up-rating of Guardian’s Allowance, among other things in England, Northern Ireland, Scotland and Wales.

10 Mar 2022 00:00 | Published by a Tolley Employment Tax expert

Economic Crime Bill progresses through Parliament

The Economic Crime (Transparency and Enforcement) Bill received its second reading in the House of Lords on 9 March 2022 and is scheduled to complete remaining Lords stages on 14 March.

10 Mar 2022 00:00 | Published by a Tolley Corporation Tax expert

SI 2022/239 The Disregard and Bringing into Account of Profit and Losses on Derivative Contracts Hedging Acquisitions and Disposals of Shares Regulations 2022

These Regulations bring certain derivative contracts entered into on or after 1 April 2022 within the scope of the Loan Relationships and Derivative Contracts (Disregard and Bringing into Account of Profits and Losses) Regulations, SI 2004/3256 and amend the Exchange Gains and Losses (Bringing into Account Gains or Losses) Regulations, SI 2002/1970 to allow certain debits and credits from currency derivative contracts to be left out of account and, in certain circumstances, to be brought back into account for corporation tax purposes.

10 Mar 2022 00:00 | Published by a Tolley Corporation Tax expert

OECD publishes public comments on draft rules for tax base determinations under Pillar One Amount A

The OECD has received responses to the consultation on the draft rules for tax base determinations under Pillar One Amount A.

09 Mar 2022 00:00 | Published by a Tolley Corporation Tax expert

SI 2022/232 The Social Security (Contributions) (Rates, Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations 2022

These Regulations give effect to the annual re-rating of various National Insurance contributions rates, limits and thresholds from 6 April 2022.

09 Mar 2022 00:00 | Published by a Tolley Employment Tax expert

SI 2022/232 The Social Security (Contributions) (Rates, Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations 2022

These Regulations give effect to the annual re-rating of various National Insurance contributions (NICs) rates, limits and thresholds for the purposes of calculating Class 1, Class 2, Class 3 and Class 4 NICs liability (or voluntary payment) for the tax year beginning 6 April 2022. These Regulations come into force on 6 April 2022.

09 Mar 2022 00:00 | Published by a Tolley Employment Tax expert

SI 2022/230 The Taxation of Chargeable Gains Act 1992 (Amendment) Regulations 2022

These Regulations make some minor amendments to the Taxation of Chargeable Gains Act 1992 (TCGA 1992) to properly reflect the renumbering of Part 1 of the TCGA when it was rewritten by Schedule 1 to the Finance Act 2019 (FA 2019).

09 Mar 2022 00:00 | Published by a Tolley Corporation Tax expert

CIOT response: LBTT - Additional Dwelling Supplement

The CIOT has responded to the Scottish Government call for evidence on Land and Buildings Transaction Tax (LBTT) - Additional Dwelling Supplement (ADS).

08 Mar 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

SI 2022/224 The Finance Act 2021, Schedule 33 (Licensing Authorities: Tax Information) Regulations 2022

These Regulations set out various information requirements for applicants and licensing authorities for the purposes of the new tax checks rules for licence applications introduced by Finance Act 2021 Sch 33.

08 Mar 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

SI 2022/227 The Income Tax (Pay As You Earn) and the Income Tax (Construction Industry Scheme) (Amendment) Regulations 2022

These Regulations allow HMRC to issue Directions setting out how employee expenses should be provided HMRC to help address a backlog of claims requiring manual intervention that has built up during the pandemic. The Regulations also make changes to the rules on multiple PAYE schemes and related amendments to the construction industry scheme rules for multiple contractors.

08 Mar 2022 00:00 | Published by a Tolley Employment Tax expert

CIOT on Economic Crime (Transparency & Enforcement) Bill Part One

The CIOT has produced a briefing on the Economic Crime (Transparency & Enforcement) Bill Part One: Register of Overseas Entities.

08 Mar 2022 00:00 | Published by a Tolley Corporation Tax expert

Updated HMRC Guidance on follower notices and accelerated payments

HMRC has updated its guidance on follower notices and accelerated payments.

08 Mar 2022 00:00 | Published by a Tolley Owner-Managed Businesses expert

SI 2022/231 The Tax Credits, Child Benefit and Guardian’s Allowance Uprating Regulations 2022

These regulations set out the revised annual rates and thresholds of Working Tax Credit (WTC) and Child Tax Credit (CTC) to apply with effect from 6 April 2022, and the weekly rates of Child Benefit and Guardian's Allowance from 11 April 2022.

08 Mar 2022 00:00 | Published by a Tolley Employment Tax expert

Weekly roundup of HMRC manual changes: 7 March 2022

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

07 Mar 2022 00:00 | Published by a Tolley Corporation Tax expert

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