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HMRC and the Treasury have published a number of new consultations and responses, covering various subjects including the UK’s implementation of Pillar 2, the reporting rules for digital platforms, self-assessment notification of liability timings, and improving the way HMRC uses taxpayer data.

The Society of Trust and Estate Practitioners (STEP) has published its response to HMRC’s consultation on its intention to expand the investment transactions list used by the investment manager exemption to provide tax certainty to UK investment managers seeking to include types of crypto-assets within their investors’ portfolios. Regarding the proposed definition of crypto-assets, STEP seeks clarity on non-fungible tokens; supports references to ‘similar technology’ to accommodate variations on traditional crypto-assets and, the inclusion of ‘interests in crypto-assets’.

The Office of Tax Simplification has published a report which analyses the impacts of tax complexity and recommends that the principle of simplification should be embedded in the tax policy making process.

On 20 July 2022, the Treasury published a raft of legislation in draft which will form the basis of Finance Bill 2023.

In the Treasury minutes published on 19 July 2022, the government has responded, among other things, to the Public Accounts Committee (PAC) report from session 2021–2022 and 2022 – 2023 on the Bounce Back Loans Scheme.

HMRC has published a new guidance on steps to be taken before registering as a professional tax agent.

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

The European Commission has launched a consultation on options  to address the role of enablers who contribute to tax evasion and aggressive tax planning.

These Regulations provide a new list of high-risk third countries in relation to which enhanced due diligence requirements apply under the principal Money Laundering Regulations.

The CIOT has responded to the HM Treasury’s review of potential reforms to UK's capital allowance regime.

HMRC has updated its disclosure of tax avoidance schemes (DOTAS) and the disclosure of tax avoidance schemes: VAT and other indirect taxes, (DASVOIT) guidance.

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

The UK government intends to publish draft legislation for Finance Bill 2023 on 20 July 2022.

The primary threshold for Class 1 NICs increased to £12,570 on 6 July 2022, bringing the threshold into line with the income tax personal allowance.

HMRC has launched a consultation on potential options for reform of the tax treatment of cryptoasset loans and ‘staking’ in the context of decentralised finance. The consultation runs until 31 August 2022.

This Order provides that the ten specified securities are '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.

HMRC has launched a consultation seeking views on the use of MTD compatible software to keep and preserve business records, send quarterly updates to HMRC, and submit an end of period statement. This consultation closes on 28 July 2022.

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

The ATT cautions that proposed reforms to the capital allowances regime overlook the needs of small businesses and may detract from continued investment and growth in the UK.

These Regulations set out a number of requirements for information that must be provided and verified to the registrar in relation to the Register of Overseas Entities which is to be introduced by Part 1 of the Economic Crime (Transparency and Enforcement) Act 2022.