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The Government of Jersey has published a policy paper setting out its reflections on the Organisation for Economic Co-operation and Development's (OECD) two-pillar initiative which seeks to address the tax challenges arising from the increasing digitalisation of the economy. The paper includes a study of the issues presented by Pillars One and Two and Jersey’s approach towards implementation. The paper also sets out the factors that will be considered when determining the approach to the GloBE (Global Anti-Base Erosion) rules. Feedback is invited from stakeholders which should be submitted by 30 June 2022.

The CIOT has published a response to OECD’s consultation on implementation framework of the global minimum tax.

These Regulations ensure that households will not lose council tax discounts or exemptions as a consequence of hosting a sponsored individual or family under the Homes for Ukraine scheme which was announced to Parliament on 14 March 2022.

HMRC has updated its import, export and customs guidance to reflect the post-Brexit regime. The update covers the period from 4 April 2022 to 11 April 2022.

HM Revenue & Customs (HMRC) has published settlement terms for companies or individuals who have used certain tax avoidance schemes involving remuneration trusts. HMRC report that these schemes do not work to deliver the ‘tax free’ environment they claim and that the scheme design may have a fundamental flaw resulting in no valid transfer of funds to a trust. The settlement is only open for individuals or companies whose scheme use meets certain criteria which are set out fully in the terms. The settlement opportunity will be open for applicants until 31 July 2022.

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.

11 April 2022 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

HMRC has published its Managing Pension Schemes service newsletter for April 2022 to update stakeholders on the latest news for pension schemes.

HMRC has updated its guidance to explain how repayment and late-payment interest rates are set.

The UK-Sweden Double Tax Convention has been republished, incorporating the new principal purpose test agreed in 2021. The revised UK-Taiwan Double Tax Agreement incorporates various changes dealing with anti-avoidance, including dispute resolution and also introduced a principal purpose test.

HMRC has updated its guidance to reflect the legislative changes from 1 April 2022, confirming when the zero, reduced and standard rate applies to the installation of energy-saving materials in Great Britain and Northern Ireland.

HMRC has issued new guidance regarding the information it may publish on tax avoidance schemes, promoters, enablers and suppliers of these schemes. This includes a ‘current list’ of named tax avoidance schemes, promoters, enablers and suppliers.

The European Commission has launched a public consultation aimed at improving withholding tax refund/relief procedures (under double tax treaties or national rules) for cross-border payments received by non-resident investors. The initiative aims to provide Member States with information to prevent tax abuse in the field of withholding taxes and, at the same time, accommodate swift and efficient processing of requests for refunds and/or relief at source procedures of the excess taxes withheld. The Commission is inviting the public and stakeholders to express their views on the problems at stake as well as on possible measures and their potential impacts. The consultation closes on 26 June 2022.

The Financial Secretary to the Treasury has issued a written statement that announces that the government will introduce legislation in Finance Bill 2022-23 which exempts sponsorship payments made under the Homes for Ukraine scheme from income tax and corporation tax. In addition, the payments will not be liable to National Insurance contributions (NICs). Reliefs from the annual tax on enveloped dwellings (ATED) and the 15% rate of Stamp Duty Land Tax (SDLT) will continue to be available where dwellings are used under the Homes for Ukraine Scheme.

From 6 April 2022, businesses hiring former members of the UK armed forces in their first year of civilian employment can save thousands of pounds in employee National Insurance contributions (NICs).

The OECD Forum on Tax Administration and with eight key partner organisations have launched the first phase of a new global Inventory of Tax Technology Initiatives (ITTI) which contains information on the use of leading technology tools and digitalisation solutions.

These Regulations amend the Social Security (Claims and Payments) Regulations, SI 1987/1968 and the Universal Credit, Personal Independence Payment, Jobseeker’s Allowance and Employment and Support Allowance (Claims and Payments) Regulations, SI 2013/380. These Regulations will introduce a temporary change which will result in the Department for Work and Pensions (DWP) no longer accepting requests for ongoing consumption payments from energy suppliers for either new arrangements or increased payments for DWP claimants. Claimants will still be able to request ongoing consumption payments if they choose to do so, or increase/alter any payments already in place.

The Chartered Institute of Taxation (CIOT) has responded to HM Treasury and HMRC’s OECD Pillar 2 consultation on implementation.

As part of the ongoing work of the OECD/G20 Inclusive Framework on BEPS to implement the Two-Pillar Solution to address the Tax Challenges Arising from the Digitalisation of the Economy, the OECD is seeking public comments on Draft Rules for Domestic Legislation on Scope under Amount A of Pillar One.

HMRC has updated its guidance on claiming extended loss carry-back claims for companies.