½Û×ÓÊÓƵ

The Chartered Institute of Taxation (CIOT) has published a further update that HMRC has extended its agent view of employer liabilities and payments to agents with up to 7,500 clients from 1 November 2021.

HMRC has published pension schemes newsletter 134, bringing together the latest news for scheme administrators, employers and advisers.

HMRC are sending out Self-Employment Income Support Scheme (SEISS) letters to non-filers of 2019/20 self-assessment tax returns who have received grants under SEISS.

HMRC has updated its CWG2 leaflet with information about the Convention on Social Security Coordination between the UK and the Swiss Confederation and what employers need to do if an employee does not provide a certificate showing the social security contributions they must pay in another country.

These regulations designate those freeport tax sites within, or connected to, a freeport in which plant and machinery allowances, structures and buildings allowances and stamp duty land tax reliefs are available. These Regulations come into force on 19 November 2021.

HMRC has updated its guidance on reporting and paying VAT on distance sales of goods from Northern Ireland to cover businesses whose turnover is below the UK VAT registration threshold.

HMRC has updated its import, export and customs guidance to reflect the post Brexit regime. The update covers the period from 25 October 2021 to 29 October 2021.

In the ever-fast-moving world of tax announcements and developments, this news roundup pulls together some of the key changes announced this week. Our commentary will be updated in due course to reflect these latest developments.

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

These Regulations are made by the Treasury further to Part 1 of the Taxation (Cross-border Trade) Act 2018 and amend the Customs Tariff (Suspension of Import Duty Rates) (EU Exit) Regulations 2020, (SI 2020/1435), and the Customs Tariff (Establishment) (EU Exit) Regulations 2020, (SI 2020/1430). These Regulations came into force on 29 October 2021.

The CIOT has reported that HMRC’s Wealthy External Forum has issued several briefings to forum members in relation to letters that it intends to send out in relation to foreign tax credit relief double taxation allowance.

HMRC have published a policy paper and a technical note concerning the changes to Inheritance Tax (IHT) reporting requirements. The changes involve a widening of the circumstances when a full IHT account need not be delivered to HMRC where a deceased was domiciled in the UK. This reduces the information that those administering the estates are required to report. HMRC further clarified the reporting requirements for estates where the deceased was never domiciled in the UK, and aligned the period in which HMRC may make enquiries into estates where accounts are not required. The new measure will have effect and apply to deaths on and after 1 January 2022.

The CIOT has reported that HMRC’s Wealthy External Forum has issued several briefings to forum members in relation to letters that it intends to send out in relation to cryptoassets.

These Regulations are made under the Taxation (Cross-border Trade) Act 2018. They make amendments to three statutory instruments, namely the Customs Tariff (Preferential Trade Arrangements) (EU Exit) Regulations 2020, (SI 2020/1457), the Customs (Tariff-free Access for Goods from British Overseas Territories) (EU Exit) Regulations 2020, (SI 2020/1434) and the Customs (Tariff Quotas) (EU Exit) Regulations 2020, (SI 2020/1432). The majority of the regulations come into force on 17 November 2021, however two amendments to Schedule 1 to the Preferential Trade Arrangements Regulations come into force on 1 December 2021.

These Regulations make provision in consequence of the Social Security (Scotland) Act 2018 and regulations made under it. These Regulations provide a legal gateway for the sharing of information relevant to devolved Scottish social security functions between the Scottish Ministers and the Secretary of State (in practice, the Secretary of State for Transport), and the Scottish Ministers and the Northern Ireland Department for Communities.

The government announced at Autumn Budget 2021 that the import of dental prostheses by (or on behalf of) registered dentists or registered dental care professionals would be exempt from VAT, applied retrospectively to 1 January 2021. HMRC has now published a new VAT Brief which explains the changes, how businesses can claim repayment of any overpaid import VAT paid after 1 January 2021, and how businesses can declare the correct VAT value for imports of dental prostheses.

HMRC has published two new guidance pages and updated various other guidance pages to provide details of making a late coronavirus Job Retention Scheme (CJRS) claim if the deadline has been missed and to explain how to use the service to view or delete previous claims.

HMRC has updated its guidance on the recovery loan scheme to state that the scheme would be extended until 30 June 2022 as announced at the Autumn Budget 2021 and include the changes applicable from 1 January 2022.

The Association of Taxation Technicians (ATT) has welcomed the move to extend the deadline for reporting capital gains tax on residential property disposals from 30 days to 60 days for disposals on or after 27 October 2021. Disposals before this date will still need to meet the 30-day requirement.

The Department for Business, Energy & Industrial Strategy, HM Treasury and HMRC have jointly launched a consultation to seek views on the introduction of a corporate UK re-domiciliation regime to support companies seeking to relocate to the UK.