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This Order fulfils the indexation requirements in sections 21 (relating to the basic rate limit only) and 57 (indexation of allowances) of the Income Tax Act 2007 to set the limits and allowances for tax year 2021-22.

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 published new guidance for stakeholders. Subjects covered in this guidance include how to bring goods back into the UK after they have been imported into another country or if they were rejected for import at the other country’s border, where import and export declarations are required. While the Brexit transition/implementation period ended at 11 pm on 31 December 2020 (IP completion day), the government continues to issue new and updated Brexit webpages and guidance documents on the associated legal and practical changes. Further guidance may continue to be issued, so stakeholders are advised to monitor these pages for updates.

HMRC has published an updated excise notice 196. Subjects covered in this guidance include the changes resulting from the end of the Brexit transition period. While the Brexit transition/implementation period ended at 11 pm on 31 December 2020 (IP completion day), the government continues to issue new and updated Brexit webpages and guidance documents on the associated legal and practical changes. Further guidance may continue to be issued, so stakeholders are advised to monitor these pages for updates.

HMRC has published new guidance for stakeholders. Subjects covered in this guidance include how to send excise goods by parcel from Great Britain to Northern Ireland and how to apply the excise duty off-set calculation to any excise goods being sent as a parcel from Great Britain to Northern Ireland. While the Brexit transition/implementation period ended at 11 pm on 31 December 2020 (IP completion day), the government continues to issue new and updated Brexit webpages and guidance documents on the associated legal and practical changes. Further guidance may continue to be issued, so stakeholders are advised to monitor these pages for updates.

HMRC has updated its collection of Self-employment income support scheme (SEISS) guidance to reflect the closing date as 29 January 2021 for making a claim for the third grant. Details about the fourth grant will be announced on 3 March 2021.

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

These Regulations amend section 244C of the Finance Act 2004 to ensure the effective operation of Part 4 of the Act once the United Kingdom exits the EU customs union.

HMRC has published two updated excise notices. Subjects covered in this guidance include the changes resulting from the end of the Brexit transition period. While the Brexit transition/implementation period ended at 11 pm on 31 December 2020 (IP completion day), the government continues to issue new and updated Brexit webpages and guidance documents on the associated legal and practical changes. Further guidance may continue to be issued post-IP completion day, so stakeholders are advised to monitor these pages for updates.

The Scottish Cabinet Secretary for Finance, Kate Forbes, delivered the Scottish Budget on Thursday, 28 January 2021.

HMRC has published a special Agent Update edition dealing with Brexit. While the Brexit transition/implementation period ended at 11pm on 31 December 2020 (IP completion day), the government continues to issue new and updated Brexit webpages and guidance documents on the associated legal and practical changes. Further guidance may be issued post-IP completion day, so stakeholders are advised to monitor these pages for updates.

The Office of Tax Simplification (OTS) has published a call for evidence seeking stakeholder views to inform its review of ways to make tax easier for people through smarter use of third party data. Responses to the call for evidence should be sent by 9 April 2021.

Further to the announcement made on 25 January that there would be no self-assessment late filing penalty for those who file online by 28 February 2021, HMRC has now confirmed its position in relation to other self-assessment returns.

HMRC has updated a suite of Coronavirus job retention scheme (CJRS) guidance with further updates on how to calculate an employee’s usual wages using the calendar lookback method, as provided by Treasury Direction, and the details of employers that will be publicly available after claiming for CJRS.

HM Revenue and Customs (HMRC) has published updated guidance for those supplying or using fuel for vehicles. Subjects covered in this guidance include updates to reflect the end of the Brexit transition period for the type of fuel that can be legally used in different types of vehicles, relief that can be obtained for mineral oil put to certain uses, the UK Duty Stamps Scheme and the requirements and obligations for warehouse keepers of motor and heating fuels in the UK. While the Brexit transition/implementation period ended at 11pm on 31 December 2020 (IP completion day), the government continues to issue new and updated Brexit webpages and guidance documents on the associated legal and practical changes. Further guidance may be issued post-IP completion day, so stakeholders are advised to monitor these pages for updates.

The government has published a call for input in relation to its review of the UK funds regime. The call for input sets out the scope and objectives of the review, which was announced in the 2020 Budget, and invites stakeholders to provide views on which reforms should be taken forward and how they should be prioritised. The call for input closes on 20 April 2021.

The Chartered Institute of Taxation (CIOT) has responded to HMRC’s consultation on follower notices and penalties.

HMRC has published an updated series of excise notices and guidance, covering subjects including changes resulting from the end of the Brexit transition period. While the Brexit transition/implementation period ended at 11 pm on 31 December 2020 (IP completion day), the government continues to issue new and updated Brexit webpages and guidance documents on the associated legal and practical changes. Further guidance may continue to be issued post-IP completion day, so stakeholders are advised to monitor these pages for updates.

HMRC has announced that it is revising Revenue and Customs Brief 12 (2020), on the VAT treatment of early termination fees and compensation payments, and that the updated VAT treatment set out in the Brief will apply from a future date. Brief 12 (2020) was published in September 2020 and at that time was stated to apply retrospectively. The revised guidance is expected shortly.

The Organisation for Economic Cooperation and Development (OECD) has updated its guidance on tax treaties following the impact of the coronavirus (COVID-19) pandemic. The OECD has highlighted that due to the ongoing public health emergency, ‘unprecedented measures’ were imposed by governments including ‘travel restrictions and curtailment of business operations’. The guidance aims to provide the OECD Secretariat’s views on the interpretation of the provisions of tax treaties in the context of the coronavirus pandemic, but recognises that tax administrations in each jurisdiction may adopt their own guidance to give taxpayers certainty. It addresses concerns related to the creation of permanent establishments, change of residence, and income from employment.