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

Many UK businesses will be released from reporting requirements and other regulations in the future due to a change in the UK definition of ‘SME’.

Mongolia has signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting. South Africa has also deposited its instrument of ratification for the BEPS convention.

The OECD is seeking public comments on the Progress Report on the Administration and Tax Certainty Aspects of Amount A of Pillar One.

The EU Council has placed Anguilla, The Bahamas and the Turks and Caicos Islands on the EU list of non-cooperative jurisdictions for tax purposes (Annex I) over concerns that these jurisdictions, which all have a zero or nominal only rate of corporate income tax, are attracting profits without real economic activity and have not adequately addressed recommendations of the OECD Forum on Harmful Tax Practices which they committed to earlier this year. This increases the number of jurisdictions on the so-called blacklist to 12. The others are: American Samoa, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands, Vanuatu. Turks and Caicos Islands is now listed for the first time. The Bahamas was already once listed in 2018, and Anguilla once in 2020.

HMRC has published a reminder that businesses will no longer be able to use their existing VAT online account to submit VAT returns from 1 November 2022

The Treasury Committee tweeted that the Chancellor has agreed to bring forward the date of the next fiscal event, originally scheduled to take place on 23 November, to some time in October. However, the Chancellor himself seemed to dispute this, noting in an interview that the Medium-Term Fiscal Plan will take place on 23 November.

Regulations are expected to be laid in time to ensure the exemption continues past 1 January 2023 when it otherwise had been due to expire.

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

HMRC has published new guidance on how to add a team member to a business tax account and give them access to a tax, duty or scheme.

HMRC’s Stakeholder Digest (28 September 2022) provides a round-up of recent news.

HMRC has published a new factsheet CC/FS71 Compliance checks: information notices on penalties for facilitating avoidance schemes involving non-resident promoters.

The CIOT has responded to the Finance Bill 2022-23 draft legislation on capital gains tax: transfers of assets between spouses and civil partners in the process of separating; new transfer pricing documentation requirements for UK businesses; and low earners anomaly: pensions relief relating to net pay arrangements.

HMRC has confirmed that a large number of taxpayers who have reclaimed tax payments using the repayment agent Tax Credits Ltd since December 2021 will be due a direct refund from HMRC.

HM Treasury has fully indemnified the Bank of England's intervention to restore orderly markets.

The deadline for the call for evidence on the review of hybrid and distance working has been amended.

HMRC has updated its guidance on uncertain tax treatment.

HMRC has launched a technical consultation seeking views on draft regulations that will spread the transitional impact of IFRS 17 and revoke the requirement for life insurance companies to spread acquisition expenses over 7 years.

Regulations have been laid to designate areas in the Solent and Plymouth and South Devon as Freeport Tax Sites from 14 October 2022.

HMRC has published new guidance on how to choose a tax advisor/agent to deal with HMRC on a taxpayer’s behalf.