½Û×ÓÊÓƵ

HMRC has published Agent Update issue 96 (May 2022) providing a round-up of recent developments for tax agents and advisers.

The Association of Taxation Technicians (ATT) has shared an update from HMRC that it is pausing some Research & Development Tax Credit (RDTC) payments while it investigates some irregular claims.

HMRC has updated factsheet CC/FS48 and added new sections to provide more information about the recovery of overclaimed Coronavirus Job Retention Scheme (CJRS) grants.

The CIOT has shared an HMRC briefing on share sale proceeds where disposal figures declared on taxpayer’s Self-Assessment returns don’t match those declared by the purchasing company.

In the Treasury minutes published on 16 May 2022, the government has responded, among other things, to the Public Accounts Committee (PAC) report from session 2021–2022 on HMRC’s management of tax debt.

HMRC has published new factsheet CC/FS57 on the Human Rights Act and DOTAS penalties.

16 May 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 (11 May 2022) provides a round-up of the latest news and updates including information on financial support for SME businesses, tax-free childcare, tax credit renewals, Moscow stock exchange status, guidance on tax on tips, gratuities and service charges, EU import controls and data on transfer pricing and Diverted Profits Tax.

The EU temporary state aid framework introduced in 2020 to support companies during the COVID-19 pandemic is gradually to be phased out.

The Welsh government has reached an agreement with the UK government on the establishment of freeports in Wales.

These Regulations extend the effect of the DOTAS provisions in FA 2021, which allow HMRC to issue notices where it reasonably suspects that arrangements are notifiable tax arrangements, to NICs arrangements.

These Regulations will exempt three new social security payments from income tax with retrospective effect from the date of their respective introductions.

Senegal has deposited its instrument of ratification for the BEPS Multilateral Instrument.

Opening the 2022–23 Parliamentary session on 10 May 2022, the Queen's Speech set out the UK Government's legislative priorities including the following:

HMRC has updated its tax credits guidance to confirm that tax-free pension lump sums should not be included in income for the purposes of tax credits claims and renewals.

HMRC has increased the interest rates for late payments of tax following the Bank of England’s decision on 5 May 2022 to increase the bank base rate from 0.75% to 1%.

The GAAR Advisory Panel has published an opinion on a director reward scheme using pension arrangements.

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

The Government has issued a publication aiming to kickstart a conversation with businesses on reforming the UK’s capital allowances regime.

The Chartered Institute of Taxation (CIOT) has published its comments on the HMRC’s Construction Industry Scheme (CIS): Landlord contributions to tenant works.