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HMRC is increasing the late-payment interest rate to 7.50% and the repayment rate to 4% from 11 July 2023. Interest on quarterly instalment payments of corporation tax is also increased from 3 July 2023.

The CIOT has published its response to HMRC’s consultation on Stamp Taxes on Shares modernisation.

These Regulations empower the Registrar to impose financial penalties for offences in relation to the registration of overseas entities, and apply an exception to restrictions on the registration of certain land transactions in Northern Ireland.

The CIOT and ATT have responded to the HMRC consultation on the taxation of decentralised finance involving the lending and staking of cryptoassets.

The Treasury has announced that the Government will publish draft clauses for the next Finance Bill on 18 July 2023.

This order specifies seven securities as gilt-edged securities and therefore gains on their disposal are not chargeable gains for the purposes of capital gains tax or corporation tax on chargeable gains.

26 June 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

HMRC has published Community Amateur Sports Club (CASC) Newsletter 2 – June 2023.

The UK government has responded to the Public Accounts Committee’s report on Digital Services Tax.

The House of Lords Bill was published late on 21 June 2023, incorporating all changes agreed during the Bill’s passage through the Commons.

The House of Commons Treasury Committee has published a report on Tax Simplification with several recommendations for government.

HMRC has launched a consultation on potential reforms to the UK legislation on transfer pricing, permanent establishments, and diverted profits tax. The consultation will close on 14 August 2023.

HMRC has published Agent Update issue 109 (14 June 2023) providing a round-up of recent developments and changes to legislation and allowances relating to UK tax for tax agents and advisers.

The Chancellor has put forward several amendments, including two new clauses, which will be considered in the House of Commons at Report Stage on 20 June 2023 (rescheduled from the original 19 June date).

The OECD Forum on Tax Administration (FTA) launches peer-to-peer support for developing countries on the implementation of the Two-Pillar.

HMRC has launched a consultation seeking views on the proposal to introduce a voluntary standard for customs intermediaries, with the aim of improving the quality of service across the sector.

The Chartered Institute of Taxation (CIOT) has responded to the HM Treasury consultation on Reserved Investors Fund (RIF).

The National Audit Office (NAO) has published a report, Progress with Making Tax Digital. The report considers progress to implement Making Tax Digital, and whether HMRC’s latest plans provide confidence that the programme will deliver value for money.

12 June 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

HM Treasury has announced that the Energy Profits Levy, which puts a marginal tax rate of 75% on North Sea oil and gas production, will remain in place until March 2028. The tax rate will fall back to 40%, the rate before the Energy Profits Levy was introduced, when the oil and gas prices consistently return to normal levels for a sustained period.