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HMRC鈥檚 latest Digest provides a round-up of recent news including the latest tax gap data, the end of CHIEF for imports, HMRC鈥檚 tax repayment agent consultation, and the new corporate interest restriction working group.

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 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.

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 enable assets held within registered pension schemes which are 鈥渄ormant鈥� to be transferred out of the pension scheme into a reclaim fund without incurring unauthorised payments charges.

The Remote Observation and Recording (Courts and Tribunals) Regulations 2022, SI 2022/705, which were made under section 85A of the Courts Act 2003 (which was itself introduced by section 198 of the Police, Crime, Sentencing and Courts Act 2022), came into force on 28 June 2022. Also on 28 June 2022, the Lord Chief Justice and the Senior President of the Tribunals published Practice Guidance on Remote Observation of Hearings鈥擭ew Powers in order to help judicial office holders understand and apply the law.

HMRC has published pension schemes newsletter 140, to update stakeholders on the latest news and updates regarding pension schemes.

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

HMRC has increased the interest rates for late payments of tax following the Bank of England鈥檚 decision on 16 June 2022 to increase the bank base rate from 1% to 1.25%.

HMRC has launched a new tool that can be used to estimate the impact of the recent NIC changes on employees. This tool is not suitable for the self-employed.

HMRC鈥檚 Employment Related Securities Bulletin 43 (June 2022) announces a review of the mechanism for calculating the SAYE bonus rate.

HMRC has updated its Making Tax Digital for Income Tax guidance, to expand the criteria setting out who can sign up on a voluntary basis.

HMRC has published responses to the consultation on draft legislation amending the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations,

The ICAEW Tax Faculty has provided guidance to clarify how employers should apply the freeports upper secondary threshold for NICs.

The Tax Chamber President has published a Practice Statement in relation to the issue of witness summonses and orders to produce documents.

HMRC has published Agent Update issue 97 (June 2022) providing a round-up of recent developments for tax agents and advisers.

HMRC has published its bi-monthly magazine providing the latest information on payroll-related topics for employers and agents.

These Regulations designate various areas within the Plymouth and South Devon freeport as freeport tax sites with effect from 4 July 2022.

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