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

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.

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.

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.

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

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).

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

HMRC has updated its factsheet on compliance checks for large and complex businesses to include additional information on disclosure and penalties.

HMRC has published new guidance for businesses wanting to enter the QAHC regime, make a QAHC information return or make other notifications such as breach notifications.

HMRC has published new guidance on changes and issues affecting the way companies should file their Company Tax Return using the corporation tax online service.

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

The Subsidy Control Bill 2022, which will introduce a regime in the UK to replace the EU state aid rules, is currently passing through the House of Lords.

The Treasury has published two factsheets which explain two parts of the Economic Crime (Transparency and Enforcement) Bill 2022.

Bahrain and Romania have deposited their instruments of approval or ratification with the OECD for the BEPS Multilateral Convention.

The National Insurance Contributions Bill is in the final stages of progressing through Parliament. On 1 March 2022, the House of Commons considered the House of Lords’ amendments, rejecting those proposed by the opposition parties that had been accepted by the House of Lords.

Following the publication of maps by HMRC to delineate sites within each of the East Midlands, the Liverpool City and the Solent Freeports, three Regulations have been laid to designate those sites as Freeport Tax Sites from 22 March 2022.

The OECD has released the third batch of 2021-2022 updates to the transfer pricing country profiles, reflecting the current transfer pricing legislation and practices of 28 jurisdictions.

The OTS has published an evaluation update paper on the Single Customer Account, which is one of four separate notes accompanying the OTS’s everyday tax evaluation paper, providing an update on its 2019 reviews about simplifying everyday tax for smaller businesses and taxation and life events.

HMRC has announced the outcome of its consultation on the technical guidance for the government’s new policy on the notification of uncertain tax treatment by large business.

HMRC has launched a consultation to gather evidence and inform government policy on the proposal for an online sales tax (OST) as a means to rebalance the taxation of the retail sector between online and in-store retail. The consultation will run from 25 February to 20 May 2022.