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HMRC has announced that the late filing and late payment penalties for self-assessment taxpayers will be waived for one month, giving them extra time to complete the 2020/21 tax return and pay any tax due. The filing and payment deadline of 31 January 2022 will remain unchanged.

The European Commission has presented proposal of a Directive laying down rules to prevent the misuse of shell entities for tax purposes.

The European Commission has proposed a Directive ensuring a minimum effective tax rate for the global activities of large multinational groups.

In the ever-fast-moving world of tax announcements and developments, this news pulls together some of the key changes announced between 23 December 2021 to 4 January 2022. Our commentary will be updated in due course to reflect these latest developments.

The Chartered Institute of Taxation has shared feedback from the Joint VAT Consultative Committee (JVCC) on the most common reasons that cause online VAT registration applications to require manual intervention and increase processing time.

HMRC has updated its Capital versus revenue expenditure toolkit for 2020-21.

HMRC has updated its One Stop Shop VAT (OSS) Return guidance with detailed information about the different payment methods.

HMRC has updated its SSP guidance following the reintroduction of the Coronavirus Statutory Sick Pay Rebate Scheme (SSPRS).

The Chartered Institute of Taxation has shared a note highlighting the changes in HMRC’s approach to the treatment of loans made to remittance basis users (RBUs) where assets of the borrower are held by the lender.

HMRC has published the December 2021 edition of the HMRC Trusts and Estates Newsletter.

The Welsh government delivered its 2022-23 budget on 20 December 2021.

The Chancellor has announced additional support for businesses impacted by the Omicron variant.

HMRC has updated its Coronavirus Job Retention Scheme (CJRS) guidance on paying back CJRS grants to add a new section ‘If you need more time to work out what you owe’.

HMRC has updated its Making Tax Digital (MTD) guidance pages to add information in relation to submitting quarterly updates of business income and expenses.

The Scottish Government has published the outcomes of its consultation on its overarching approach to tax policy, alongside Scotland’s first Framework for Tax, which sets out the principles and strategic objectives that underpin the Scottish Approach to Taxation.

The Scottish Government has launched a consultation seeking the public’s views on the operation of the Land and Buildings Transaction Tax (LBTT) Additional Dwelling Supplement (ADS). This will be the first stage in the review of the ADS announced in the 2021-22 Programme for Government.

The OECD has published detailed rules to assist in the implementation of the landmark reform to the international tax system, which will ensure Multinational Enterprises (MNEs) will be subject to a minimum 15% tax rate from 2023.

HMRC has updated its import, export and customs guidance to reflect the post-Brexit regime. The update covers the period from 13 December 2021 to 20 December 2021.

HMRC has published new guidance on Plastic Packaging Tax (PPT) to provide information on what records and accounts must kept by businesses to support the information when submitting their PPT returns.

HMRC has rewritten its factsheet on managing serious defaulters.