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The CIOT has published the latest HMRC Stakeholder Digest (6 January 2022) which provides a round-up of the latest news and updates.

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

The Chancellor of the Exchequer has commissioned the Office for Budget Responsibility to produce an economic and fiscal forecast for Wednesday 23 March 2022.

The CIOT has published the latest HMRC Stakeholder Digest (22 December 2021) which provides a round-up of the latest news and updates.

SI 2022/5 The Statutory Sick Pay (Coronavirus) (Funding of Employers’ Liabilities) Regulations 2022 and SI 2022/9 The Statutory Sick Pay (Coronavirus) (Funding of Employers’ Liabilities) (Northern Ireland) Regulations 2022 provide for the reintroduction the Coronavirus Statutory Sick Pay Rebate Scheme (SSPRS) from 21 December 2021.

The European Commission has presented proposal of a Directive laying down rules to prevent the misuse of shell entities for tax purposes.

The European Commission has proposed a Directive ensuring a minimum effective tax rate for the global activities of large multinational groups.

In the ever-fast-moving world of tax announcements and developments, this news pulls together some of the key changes announced between 23 December 2021 to 4 January 2022. Our commentary will be updated in due course to reflect these latest developments.

HMRC has updated its Capital versus revenue expenditure toolkit for 2020-21.

The Chancellor has announced additional support for businesses impacted by the Omicron variant.

HMRC has updated its Making Tax Digital (MTD) guidance pages to add information in relation to submitting quarterly updates of business income and expenses.

The Scottish Government has published the outcomes of its consultation on its overarching approach to tax policy, alongside Scotland’s first Framework for Tax, which sets out the principles and strategic objectives that underpin the Scottish Approach to Taxation.

The Scottish Government has launched a consultation seeking the public’s views on the operation of the Land and Buildings Transaction Tax (LBTT) Additional Dwelling Supplement (ADS). This will be the first stage in the review of the ADS announced in the 2021-22 Programme for Government.

HMRC has rewritten its factsheet on managing serious defaulters.

HMRC interest rates for late payments will be revised following the Bank of England interest rate rise to 0.25% from 0.1%.

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

HMRC has updated its guidance on completing a stock transfer form where the chargeable consideration is calculated by reference to another document.

The Office of Tax Simplification (OTS) has published an evaluation update paper following its reviews ‘Simplifying everyday tax for smaller businesses’ and â€˜Taxation and Life Events: Simplifying tax for individuals’.

HMRC has launched a technical consultation on draft regulations which will extend the scope of the ‘Disregard Regulations’ to cover derivative contracts which act as a hedge of a foreign exchange risk in relation to an anticipated future acquisition or disposal of a substantial shareholding.

HMRC has updated its Coronavirus Job Retention Scheme guidance to cover how employers should deal with underpayments to employees that come to light when filing the tax return, and offsetting overclaimed amounts against underclaims for other employees in the same claim period.