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

HMRC has published an updated version of its agent toolkit for capital allowances for plant and machinery for 2021–22.

These Regulations bring into force most of the provisions of Part 1 of the Economic Crime (Transparency and Enforcement) Act 2022 relating to the registration of overseas entities.

HMRC has published an updated version of its agent toolkit for property rental income for 2021–22.

The ATT and CIOT are calling on HMRC to publish ‘detailed practical guidance’ setting out taxpayer obligations under Making Tax Digital for Income Tax Self-Assessment, and to ‘objectively review’ the proposed timetable for implementation.

HMRC has published new compliance factsheets on facilitating avoidance schemes involving non-resident promoters. The factsheet on failure to comply with stop notices has been updated.

The CIOT has raised concerns regarding the lack of detail in the draft notices made under regulations 3, 8, 12 and 16 of the Income Tax (Digital Requirements) Regulations 2021,

HMRC has clarified that, with one exception, a CGT UK property return must be filed even if the disposal has already been reported on a self-assessment tax return.

HMRC’s Stakeholder Digest (20 July 2022) provides a round-up of recent news including Legislation Day and HMRC’s annual report and accounts for 2021–22.

The Treasury Committee has launched an inquiry examining the tax reliefs available to individuals and businesses, and whether the system of reliefs achieves benefits for the UK economy that justify their cost. The inquiry will follow HMRC’s definitions of structural and non-structural reliefs. The Committee seeks responses on whether the current suite of tax reliefs represent good value for money, how the various reliefs rank relative to each other based on cost effectiveness, the problems arising from tax reliefs for taxpayers, businesses or for the wider economy, and whether the tax reliefs are being used as intended. The Committee also invites respondents to outline potential reforms to the system of tax reliefs. Responses must be submitted by 19 September 2022.

In this GAAR panel opinion on a repayment of a participator loan through transactions involving group companies, the panel's opinion is that entering into, and carrying out, the tax arrangements was a reasonable course of action in relation to the relevant tax provisions. This is the first of the GAAR Advisory Panel’s opinions that favours the taxpayer.

HMRC has published pension schemes newsletter 141.

HMRC has published Agent Update issue 98 (July 2022) providing a round-up of recent developments for tax agents and advisers.

HMRC and the Treasury have published a number of new consultations and responses, covering various subjects including the UK’s implementation of Pillar 2, the reporting rules for digital platforms, self-assessment notification of liability timings, and improving the way HMRC uses taxpayer data.

The Office of Tax Simplification has published a report which analyses the impacts of tax complexity and recommends that the principle of simplification should be embedded in the tax policy making process.

On 20 July 2022, the Treasury published a raft of legislation in draft which will form the basis of Finance Bill 2023.

HMRC has published a new guidance on steps to be taken before registering as a professional tax agent.

HMRC has published the synthesised text of the UK’s double tax convention with Chile as modified by the Multilateral Instrument (MLI).

HMRC has published Employment Related Securities (ERS) Bulletin 44.

These Regulations provide a new list of high-risk third countries in relation to which enhanced due diligence requirements apply under the principal Money Laundering Regulations.