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The Law Society has responded to HMRC’s consultation on basis period reform which closed on 31 August 2021.

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

HMRC has announced that the Trust Registration Service (TRS) is now open for non-taxable trust registrations.

HMRC has updated its guidance on accounting for import VAT on the VAT return, to address a problem with monthly VAT statements which has caused difficulties for businesses which use simplified declarations for imports.

Algeria has joined the Global Forum on Transparency and Exchange of Information for Tax Purposes.

Jamaica and Ukraine have committed to implement the international Standard for Automatic Exchange of Financial Account Information in Tax Matters (AEOI) by 2022 and 2023 respectively.

Responding to HMRC’s consultation on basis period reform, the Association of Taxation Technicians (ATT) has called for a delay to the implementation of plans to change how partners and sole traders calculate their taxable profits each year.

Following a short consultation from 20 July 2021, the government has confirmed that it will proceed to make The Value Added Tax (Treatment of Transactions) (Revocation) Order 2021 with no changes.

HMRC has updated its guidance with information on which trusts are to be registered and which are not.

Togo has joined the BEPS inclusive framework and the two-pillar plan to reform the international taxation rules to ensure that multinational enterprises pay a fair share of tax wherever they operate.

The Law Society reports that HMRC has confirmed that an existing VAT concession for counsel’s fees remains in place at present but is under review.

The Chartered Institute of Taxation (CIOT) has responded to the HMRC’s consultation on basis period reform which closed on 31 August 2021.

The Scottish Government has launched a consultation seeking the public’s views on its overarching approach to tax policy, through Scotland’s first framework for tax, and how the Scottish Government should use its devolved and local tax powers as part of the Scottish Budget 2022–23, particularly to support the ongoing economic recovery from coronavirus (COVID-19). The consultation also outlines the Scottish Government’s tax programme for this Parliament.

HMRC has updated its import, export and customs guidance to reflect the post Brexit regime. The update covers the period from 23 August 2021 to 31 August 2021.

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

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 guidance with a new section 'Seeding relief for Property Authorised Investment Funds or Co-Ownership Authorised Contractual Schemes’.

HMRC has published pension schemes newsletter 132, which informs relevant stakeholders of the latest news and updates regarding pension schemes.

HMRC has published a new factsheet on information and documents that a financial institution will need to provide to HMRC if they receive a financial institution notice (FIN).

HMRC has published an equality impact assessment of the changes to the NICs treatment of termination payments and sporting testimonials introduced in April 2020.