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HMRC has published Agent Update issue 99 (August 2022) providing a round-up of recent developments for tax agents and advisers.

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

HMRC has reviewed its trusts guidance to cover its duty of care where the sharing of trust information with third parties (for example for anti-money laundering purposes) could expose the beneficial owner of the trust to a disproportionate risk of harm.

HMRC has published new factsheet CC/FS72 on corresponding with HMRC by email.

HMRC has published its Trusts and Estates Newsletter for August 2022.

HMRC has increased the interest rates for late payments of tax following the Bank of England’s decision on 5 August 2022 to increase the bank base rate from 1.25% to 1.75%.

The Tax Chamber President has released updated guidance on the procedure to be followed when a party to a case wishes to rely on oral evidence given by video or telephone from abroad.

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

These Regulations provide for the electronic delivery of documents, the protection of certain information and the inclusion of corporate trustees for the purposes of the Register of Overseas Entities in accordance with Part 1 of the Economic Crime (Transparency and Enforcement) Act 2022.

HMRC has updated its guidance to provide details of the process to be followed in order to report the disposal of UK property or land to HMRC.

In this GAAR panel opinion on a repayment of a participator loan through transactions involving group companies, the panel's opinion is that entering into, and carrying out, the tax arrangements was a reasonable course of action in relation to the relevant tax provisions. This is the first of the GAAR Advisory Panel’s opinions that favours the taxpayer.

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 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.

The CIOT has responded to the three key questions asked in the consultation on legislative proposals to extend an existing concession that removes trusts and estates from income tax where the only source of income is savings interest, and the tax liability is below £100.

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

The ATT welcomes proposals to remove more low-income trusts and estates from income tax.

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—New Powers in order to help judicial office holders understand and apply the law.