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HMRC has published Agent Update issue 91 (December 2021) providing a round-up of recent developments for tax agents and advisers.

The government has proposed amendments to Schedules 2 (qualifying asset holding companies) and 15 (notification of uncertain tax treatment). Government amendments to clause 28 (diverted profits tax) were passed on 1 December.

The Seychelles has deposited its instrument of ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (Multilateral Convention or MLI). Iceland has also deposited a new notification under the MLI.

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

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

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

HMRC has published new guidance on clearance applications and how to apply for advance confirmation of an exempt distribution when a company purchases its own shares.

6 December 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. A new section (‘Company tax return’) has been added which explains that grants and payments to support businesses during coronavirus (COVID-19) are taxable and need to be declared on company tax returns.

Over 30 documents were published on the inaugural ‘Tax Administration and Maintenance day’ signifying the start of a period of consultation and evaluation. Our summary document details the key announcements.

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

The CIOT has commented on Finance (No.2) Bill 2021 briefings on - Clauses 7-8 Schedule 1: Basis Period Reform, Clauses 53-66: Economic Crime (Anti- Money Laundering) Levy and Clauses 84-90 Schedule 12: Tackling Tax Avoidance.

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

HMRC has published Agent Update issue 90 (November 2021) providing a round-up of recent developments for tax agents and advisers.

The Treasury has announced that Tax Administration and Maintenance Day will be on 30 November 2021.

HMRC has updated its guidance on packaging subject to plastic packaging tax with more information about recycled plastic.

The Chartered Institute of Taxation (CIOT) has responded to the Treasury Committee’s inquiry into the Autumn Budget and Spending Review 2021.

These Regulations amend the Authorised Investment Funds (Tax) Regulations, SI 2006/964 (the AIF regulations) to provide for tax treatment of a new type of authorised fund called the long-term asset fund (LTAF), which targets investment in long-term illiquid assets, following the introduction of rules for these new fund vehicles by the Financial Conduct Authority. They also make provision in relation to the application of Part 3A of the Corporation Tax Act 2010 (companies with small profits) to qualified investor schemes.

The Finance Bill 2022 had its second reading on 16 November 2021. The notes to the Budget Resolutions were also updated.

HMRC has published new guidance on claiming enhanced capital allowances and structures and buildings allowances in a designated Freeport tax site. These reliefs can be claimed until 30 September 2026.