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HMRC has updated its guidance on packaging subject to plastic packaging tax with more information about recycled plastic.

UK Parliament has published HM Treasury's answer to the question of whether the Chancellor of the Exchequer will publish a response to Early Day Motion 420 on introducing a wealth tax. This question was submitted by the Scottish National Party MP for Glasgow North, Patrick Grady and answered by the Conservative Party MP for South East Cambridgeshire, Lucy Frazer. The answer stated that 'getting people back to work and encouraging and incentivising businesses to take on new employees and new apprentices ultimately creates the wealth that funds our public services.'

The Chartered Institute of Taxation (CIOT) has responded to the Treasury Committee’s inquiry into the Autumn Budget and Spending Review 2021.

These Regulations amend the Authorised Investment Funds (Tax) Regulations, SI 2006/964 (the AIF regulations) to provide for tax treatment of a new type of authorised fund called the long-term asset fund (LTAF), which targets investment in long-term illiquid assets, following the introduction of rules for these new fund vehicles by the Financial Conduct Authority. They also make provision in relation to the application of Part 3A of the Corporation Tax Act 2010 (companies with small profits) to qualified investor schemes.

The higher residential rates of land transaction tax (LTT) apply where the buyer already owns one or more residential properties. If the buyer replaces their main residence and sells their previous main residence within three years of buying their new main residence, the buyer can claim a refund of the higher rates element of the LTT paid.

The Finance Bill 2022 had its second reading on 16 November 2021. The notes to the Budget Resolutions were also updated.

The Association of Taxation Technicians (ATT) has submitted its written evidence to the House of Lords Economic Affairs Finance Bill Sub-Committee inquiry into the Draft Finance Bill 2021-22. The written evidence focuses on the proposed reform of the basis period rules for income tax.

HMRC has published the synthesised text of the UK’s double tax convention with Mauritius as modified by the Multilateral Instrument (MLI).

The Pacific Islands Tax Administrators Association (PITAA) has joined the Global Forum on Transparency and Exchange of Information for Tax Purposes.

HMRC has updated its import, export and customs guidance to reflect the post-Brexit regime. The update covers the period from 8 November 2021 to 15 November 2021.

HMRC has published new guidance on claiming enhanced capital allowances and structures and buildings allowances in a designated Freeport tax site. These reliefs can be claimed until 30 September 2026.

In the ever-fast-moving world of tax announcements and developments, this news pulls together some of the key changes announced this week. Our commentary will be updated in due course to reflect these latest developments.

15 November 2021 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

The European Parliament has formally adopted a directive to amend the Accounting directive 2013/34/EU.  The Directive will enter into force 20 days after publication in the Official Journal. Member states will  have 18 months to transpose the law meaning that businesses are expected to need to comply with the first provisions of the directive by the middle of 2024.

HMRC has updated its Coronavirus statutory sick pay rebate scheme guidance for employers to reflect that EU state aid rules no longer apply in the UK.

HMRC has published new guidance setting out how HMRC deals with customers who receive a joint and several liability notice for a company that has received COVID-19 support payments, including conditions for giving a notice and safeguards.

In the ever-fast-moving world of tax announcements and developments, this news pulls together some of the key changes announced this week. Our commentary will be updated in due course to reflect these latest developments.

HMRC has updated its import, export and customs guidance to reflect the post Brexit regime. The update covers the period from 1 November 2021 to 8 November 2021.

The Chartered Institute of Taxation (CIOT) has published an HMRC Stakeholder Digest (4 November 2021) providing a round-up of the latest news and updates for members, and their customers and clients.

8 November 2021 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.