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HMRC has published the text of a new UK-Luxembourg double tax convention and protocol that was signed on 7 June 2022. It has not yet entered into force.

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

The Chartered Institute of Taxation (CIOT) has responded to the OTS call for evidence on the review of property income.

The OECD is seeking public comments on two consultation documents relating to tax certainty under Pillar One.

HMRC has published new guidance on the super-deduction and the special rate first year (SR) allowance.

30 May 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 responses to the consultation on the regulated financial services exclusion under Amount A of Pillar One.

China has deposited its instrument of ratification with the OECD for the BEPS Multilateral Convention.

OECD Secretary-General Mathias Cormann has told the World Economic Forum in Davos that the agreement needed to finalise Pillar 1 is likely to be delayed, resulting in practical implementation taking place from 2024 rather than 2023.

The UK Government has outlined its proposals for a windfall tax on the extraordinary profits of oil and gas companies which will be used to support those most heavily affected by the increased cost of living.

HMRC has informed the CIOT that the pause in some RDTC payments continues while HMRC investigates some irregular claims, which means delays to the usual processing times.

This Order widens the scope of tax legislation applying to alternative finance arrangements, specifically the purchase and resale arrangements and the diminishing shared ownership arrangements. The Order will allow both Home Purchase Plan providers that are not financial institutions but are regulated by the Financial Conduct Authority (FCA) and certain alternative finance arrangements facilitated through FCA-regulated peer-to-peer platforms to come within the scope of provisions for alternative finance arrangements.

HMRC has launched a consultation seeking views on the inclusion of cryptoassets in the investment transactions list of asset types used for the purposes of the Investment Manager Exemption (IME) and certain fund tax regimes. The consultation will run from 23 May 2022 to 18 July 2022.

The Chartered Institute of Taxation (CIOT) has responded to the HM Treasury’s consultation on online sales tax (OST).

HMRC has launched a technical consultation seeking views on draft regulations that will remove a sunset clause from the Hybrid and Other Mismatches rules so that an exemption for certain hybrid instruments issued by banks continues to apply from 1 January 2023.

23 May 2022 - 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 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.

Uzbekistan has joined the Global Forum on Transparency and Exchange of Information for Tax Purposes.

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.