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The Chartered Institute of Taxation (CIOT) has responded to HMRC’s consultation on the implementation of the OECD Model Reporting Rules, which require digital platforms to report details of the income of sellers on their platform to the tax authority where the platform is resident, incorporated or managed, and also to the sellers.

The Chartered Institute of Taxation (CIOT) has shared an update from HMRC regarding the current 30-day deadline for updates to trusts’ details on the Trust Registration Service (TRS).

These Regulations extend a number of the limits for qualifying excepted estates so that from 1 January 2022 over 90% of non-taxpaying estates will not have to deliver IHT accounts to HMRC before a grant of representation (or confirmation in Scotland) is made.

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The Platform for Collaboration on Tax (PCT) has published a new progress report on its work to support developing countries during the Covid-19 pandemic.

In a written statement to Parliament, Lucy Frazer MP, financial secretary to the Treasury, has confirmed that the Finance Bill 2021–22 will be published on 4 November 2021.

HM Treasury has published its final report following the Net Zero Review as part of its Net Zero strategy. The report considers, amongst a wide range of other policy issues, the material fiscal consequences of the strategy.

These Regulations set out the customs duty, excise duty and VAT rules that will apply for UK free zones. Free zones are special areas for customs purposes which are designated under section 100A of the Customs and Excise Management Act 1979. These Regulations come into force on 8 November 2021.

The Chartered Institute of Taxation (CIOT) has commented on the draft legislation on Residential Property Developer Tax.

The Chartered Institute of Taxation (CIOT) has responded to the HMT’s consultations on Review of the UK’s AML/CFT regulatory and supervisory regime and Amendments to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 Statutory Instrument 2022.

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

HMRC has updated its import, export and customs guidance to reflect the post Brexit regime. The update covers the period from 11 October 2021 to 18 October 2021.

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

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.

The OECD/G20 Inclusive Framework on BEPS (Inclusive Framework) has published its fourth annual review of BEPS Action 13 on transparency of global operations of large MNEs and BEPS Action 14 on resolution of tax related disputes between jurisdictions.

The Organisation for Economic Co-operation and Development (OECD) has published a statement by Bob Hamilton, Chair of the Forum on Tax Administration (FTA) and Chris Jordan, Chair of the FTA’s Joint International Task Force on Shared Intelligence and Collaboration (JITSIC), on the recent leaking of the Pandora Papers. According to the statement, the FTA, given its relationships established through the JITSIC, is able to establish a collaborative approach to ‘identifying and addressing aggressive tax avoidance and tax evasion involving multiple jurisdictions once the data becomes available’.

HMRC has published new guidance on changes to the new rules for renewing taxi, private hire or scrap metal licenses from April 2022.

HMRC has published Agent Update issue 89 (October 2021) providing a round-up of recent developments for tax agents and advisers.

The OECD has published the secretary-general’s report to the October 2021 meeting of G20 leaders in Italy, covering the Two-Pillar solution to address the tax challenges arising from the digitalisation of the economy, tax policy aspects of climate change, developing countries and the OECD/G20 Inclusive Framework on BEPS, and tax and fiscal policy after the coronavirus (COVID-19) crisis.

The Chartered Institute of Taxation (CIOT) has called for a review of the tax regime for Employee Ownership Trusts (EOT) to encourage take-up and discourage their abuse.