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Businesses and their advisers are reminded that HMRC has set a deadline of the 21 June 2021 for those wishing to join the VAT deferral new payment scheme.

The Office of Tax Simplification (OTS) has published a document setting out the scope of a new high-level exploration of the benefits, costs and wider implications of changing the date of the end of the tax year for individuals and will publish a further report over the Summer of 2021.

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.

7 June 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 import, export and customs guidance to reflect the post Brexit regime. The update covers the period from 31 May 2021 to 7 June 2021.

G7 Finance Ministers strike agreement on global tax reform that will mean the largest multinational tech giants will pay their fair share of tax in the countries in which they operate.

HMRC has updated VAT Notice 723A with information in relation to the rules for claiming VAT. Updates have also been added in relation to refunds for EU businesses incurred on or before 31 December 2020.

The OECD has published the public comments received on proposed changes to commentaries in the OECD Model Tax Convention on Article 9 and related articles.

HMRC has updated its guidance on claims for extended loss carry-back claims for companies.

HMRC has published updated road fuel scale charge tables for VAT which apply from 1 May 2021.

The Government has responded to the House of Commons Treasury Committee’s report ‘Tax after Coronavirus’, published in March 2021.

The European Commission has published guidance for EU exporters on the UK’s deferred import formalities which apply until 31 December 2021. After that date, importers will need to complete import declarations before or on arrival of the goods at their point of entry into the UK.

The online claims service for the fifth SEISS grant covering May 2021 to September 2021 will be available from late July 2021.

The European Tax Observatory has published its first report 'Closing the Tax Gap for Multinational Enterprises: Simulations for the European Union'. This report estimates the amount of tax revenue that the European Union could raise if it were to impose a minimum tax on the profits of multinational companies.

The OECD has published a new report highlighting the crucial role of tax transparency and the exchange of information (EOI) in helping African governments to stem illicit financial flows and increase domestic resource mobilisation.

HMRC has published the Australia-UK memorandum of understanding (MOU) on arbitration under Part VI of the Multilateral Instrument.

31 May 2021 - 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.

HMRC has updated its import, export and customs guidance to reflect the post Brexit regime. The update covers the period from 24 May 2021 to 31 May 2021.

Ofwat has launched a consultation seeking views on its proposals for how to treat tax impacts for green recovery expenditure. It has invited company views on the approach set out in its consultation document and whether respondents can reliably forecast tax impacts of green recovery expenditure, and if so, how much they anticipate saving. Submissions should be sent in by 12 pm on 9 June 2021.