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

The OECD Inclusive Framework on BEPS is releasing the 2020 peer review assessments of 131 jurisdictions in relation to the spontaneous exchanges of information on tax rulings on 14 December 2021.

HMRC has updated its guidance with the inclusion of new sections 'How to correct a previous return', 'If you have over-declared on your return' and 'Submit your return'.

This Order fulfils the indexation requirements in ITA 2007 s 57 (indexation of allowances) in respect of blind person’s allowance and married couple’s allowance for the tax year 2022-23.

The CIOT has published the latest HMRC Stakeholder Digest (9 December 2021) which provides a round-up of the latest news and updates.

These Regulations amend the meaning of a packaging component that is subject to Plastic Packaging Tax, introduced by the FA 2021, by modifying the meaning of a packaging component with the removal of three categories of products and adding an additional category of products.

The OECD has released new transfer pricing profiles for 21 countries

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 import, export and customs guidance to reflect the post-Brexit regime. The update covers the period from 6 December 2021 to 13 December 2021.

These Regulations set out the appointed day on which most of the elements of the new plastic packaging tax (PPT), including the main charge to tax, come into force.

HMRC has updated its guidance on Soft Drinks Industry Levy penalties to add information in relation to penalties for inaccuracies in a return.

These Regulations designate those freeport tax sites within, or connected to, a freeport in which plant and machinery allowances, structures and buildings allowances and stamp duty land tax reliefs are available. These Regulations come into force on 30 December 2021.

These Regulations provide for an exemption from capital gains tax in relation to compensation payments made to former customers of London Capital and Finance plc (LCF) under the LCF Compensation Scheme.

HMRC has updated its guidance with information about umbrella companies in section 6.6.

The Chartered Institute of Taxation has shared an update on behalf of HMRC on Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) pilot.

The self-serve online facility to agree time to pay for income tax self assessment liabilities of under £30,000 remains available and can be used to spread the payment of tax due by 31 January 2022. This facility is available to all taxpayers who have filed their 2020/21 tax return and plan to pay off the debt within 12 months.

The Scottish government delivered its 2022-23 budget on 9 December 2021

These Regulations extend the end date of the Customs (Managed Transition Procedure) (EU Exit) Regulations 2019 (SI 2019/487) from 31 December 2021 to 31 December 2022 and set out how VAT registered businesses making customs declarations by conduct on importation account for import VAT.

The Council of the European Union has reached an agreement on a proposal to update the rules for value added tax (VAT) rates for goods and services. The proposal offers Member States more flexibility and equality supporting the EU’s green, digital and public health priorities. The Council of the EU awaits the European Parliament’s opinion on the proposal to formerly adopt the new directive by March 2022.

HMRC has published its bi-monthly magazine providing the latest information on payroll-related topics for employers and agents.