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HM Treasury has announced that the Energy Profits Levy, which puts a marginal tax rate of 75% on North Sea oil and gas production, will remain in place until March 2028. The tax rate will fall back to 40%, the rate before the Energy Profits Levy was introduced, when the oil and gas prices consistently return to normal levels for a sustained period.

HMRC’s Stakeholder Digest (8 June 2023) provides a round-up of recent news and updates

This brief provides an update on the VAT treatment of supplies of digital newspapers and other digital publications before 1 May 2020.

Uzbekistan has become the 143rd country to join the OECD’s inclusive framework on BEPS.

The CIOT and ATT have responded to the HMRC consultation: ‘Simplifying and modernising HMRC’s income tax services through the tax administration framework’.

The CIOT has responded to the HMRC consultation on Expanding the cash basis for the self-employed.

HMRC has launched a technical consultation seeking views on policy options to regulate umbrella companies and to tackle non-compliance in the umbrella company market.

HMRC has published Employment Related Securities (ERS) Bulletin 52.

HMRC has published Charities Newsletter 1 which is a new publication to keep the charities sector informed about relevant updates.

HMRC has launched a consultation to seek views and gather evidence on the current usage of the Save As You Earn (SAYE) and Share Incentive Plan (SIP) employee share schemes and whether they are effective in achieving their stated policy objectives. The deadline for response is 5 pm on 25 August 2023.

HMRC has published Spotlight 62 on tax avoidance schemes used by owner managed companies to fund education fees.

5 June 2023 - 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.

The Chartered Institute of Taxation (CIOT) has responded to HMRC’s consultation: 'VAT energy saving materials relief - improving energy efficiency and reducing carbon emissions'.

The European Parliament has published a briefing on Tax transparency rules for cryptoasset transactions (DAC8).

HMRC has published pension schemes newsletter 150.

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 Employment Related Securities (ERS) Bulletin 51.

HMRC’s Stakeholder Digest (25 May 2023) provides a round-up of recent news and updates.

30 May 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.