³ÉÈËÓ°Òô

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

HMRC’s Stakeholder Digest (1 September 2022) provides a round-up of recent news.

HMRC has updated its guidance and published new guidance with information on what needs to be done if a trust wants to start a new business relationship with an organisation that is defined as a relevant person.

HMRC has published new guidance detailing how to report a trust discrepancy and how to submit a trust data request to HMRC to get trust information.

HM Treasury has published a Memorandum of Understanding (MoU) between the Scottish Fiscal Commission (SFC) and HM Treasury (HMT)

HMRC has updated its guidance on Corporate Interest Restriction (CIR) for taxpayers to add information on what they can do if they have missed the deadline for appointing a reporting company and what information to be provided to HMRC from 1 October 2022 for submitting a return.

The Court of Justice of the European Union decision that the finance company exemption in the UK CFC rules was unlawful State aid is being appealed.

HMRC has explained to the Chartered Institute of Taxation (CIOT) the reasons for the temporary pause in some R&D tax credit payments that happened in April 2022 and the ongoing delays in processing of such payments.

The CIOT President has written to Rishi Sunak and Liz Truss setting out the CIOT’s views on what should be the three priorities for the new Prime Minister for the tax system.

The email address for disguised remuneration scheme users (except contractor loans) to contact HMRC has been updated.

The Office of Tax Simplification (OTS) has issued a call for evidence asking responders to outline the nature of their roles, their plans, and their experiences in relation to hybrid and distance working. The consultation forms part of the OTS’s review of the tax implications of hybrid and distance working by assessing emerging trends and changes in practice. The consultation closes on 25 November 2022.

The CIOT has responded to the HMRC call for evidence on the taxation of decentralised finance involving the lending and staking of cryptoassets.

The account name for online or telephone banking, CHAPS or Bacs and overseas payments has been updated to ‘HMRC General BT Receipts’.

HMRC has published pension schemes newsletter 142.

HMRC has used new powers to publicly name directors of tax avoidance promoting companies for the first time. Saxonside Ltd and its director, Adam Fathers, have been named in addition to director of The Umbrella Agency Ltd, Stuart John Brooke. HMRC warns customers to leave the firms’ schemes or risk large tax bills. HMRC’s Director of Counter Avoidance, Mary Aiston, stated this should serve as a ‘stark warning’ and that HMRC will continue to use all powers to ‘crack-down’ on promoters.

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 22 August 2022 to 30 August 2022.

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

The OECD has published the public comments received on the Progress Report on Amount A of Pillar One.

HMRC has published Spotlight 60 highlighting certain tax avoidance arrangements used by some umbrella companies.