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HMRC has updated its guidance on claiming extended loss carry-back claims for companies.

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

HMRC has updated a page in its Uncertain Tax Treatment by Large Businesses manual by giving the force of law to updated guidance that details the content of a notification. New guidance has also been published on notifying HMRC about an uncertain amount of corporation tax, income tax (including PAYE) or VAT.

HMRC guidance reminds first-time licence applicants for taxi, private hire and scrap metal licences to confirm to licencing authorities that they are aware of their tax responsibilities.

These Regulations amend the Valuation for Rating (Plant and Machinery) (England) Regulations, SI  2000/540 and Schedule 6 of the Local Government Finance Act 1988. These Regulations will implement an exemption from non-domestic rates for plant and machinery used in connection with renewable generation and plant and machinery used for storage, such as rooftop solar panels and battery storage used with renewables and electric vehicle charging points (EVCP). The exemption will apply from 1 April 2022 until 31 March 2035.

The Department for Levelling Up, Housing and Communities has published the n Green Freeports in Scotland bidding prospectus which gives details on the Green Freeport model and sets out how bidders can apply in Scotland.

The OECD has released a standardised IT-format to support the electronic reporting and automatic exchange of information collected under the OECD's Model Reporting Rules for Digital Platforms.

These Regulations amend the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations, SI 2017/692 to substitute the list of high-risk third countries in Schedule 3ZA for a new list.

The Chartered Institute of Taxation (CIOT) and the Stamp Taxes Practitioners Group (STPG) have jointly responded to the Welsh Government’s consultation on local variation to Land Transaction Tax (LTT) rates for second homes, short-term holiday lets and potentially other additional residential properties.

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

Spotlight 59 is an update to Spotlight 28 on the tax avoidance schemes used by employers to provide tax free or tax reduced rewards to their employees, like the Growth Securities Ownership Plan (GSOP).

The Chancellor delivered his Spring Statement on 23 March 2022, detailing several new tax announcements.

The OECD has published a public consultation document concerning a new global tax transparency framework to provide for the reporting and exchange of information with respect to crypto-assets, as well as proposed amendments to the Common Reporting Standard (CRS) for the automatic exchange of financial account information between countries.

The Supreme Court has published its judgment in Commissioners for Her Majesty's Revenue and Customs (Appellant) v NCL Investments Ltd and another (Respondent). The Supreme Court unanimously dismisses the appeal. The judgment is given by Lord Hamblen and Lady Rose, with whom Lord Reed, Lord Briggs and Lord Sales agree.

The OECD has published its fourth peer review report assessing the actions taken by jurisdictions to prevent tax treaty shopping and other forms of treaty abuse under Action 6 of the OECD/G20 BEPS Project.

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

HMRC has announced that the interest rates for late payments will be revised following the Bank of England’s interest rate rise from 0.50% to 0.75%.

The Government of Jersey has stated that all forms of tax cooperation with Russia are suspended with immediate effect. The Minister for External Relations and Financial Services, Senator Ian Gorst, stated that Jersey should not be providing the Russian government with information that can be used to increase its tax revenues. This suspension follows from a similar announcement from the UK government on Thursday 17 March 2022.

The UK government has announced that it is suspending the exchange and sharing of tax information with Russia and Belarus as part of its response to the invasion of Ukraine.

HMRC has published Agent Update issue 94 (March 2022) providing a round-up of recent developments for tax agents and advisers.