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These Regulations amend the Tax Avoidance Schemes (Information) Regulations (SI 2012/1836) to reflect changes made to Part 7 of the Finance Act 2004 by the Finance Act 2021.

To help fund the government’s social care plans NIC rates will increase by 1.25% and tax on dividends will increase by 1.25% from April 2022.

The government spending plans are to be set out at the Spending Review on 27 October 2021 alongside an Autumn Budget.

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

HMRC has published the September 2021 edition of its Trusts and Estates Newsletter.

HMRC has announced that the Trust Registration Service (TRS) is now open for non-taxable trust registrations.

Jamaica and Ukraine have committed to implement the international Standard for Automatic Exchange of Financial Account Information in Tax Matters (AEOI) by 2022 and 2023 respectively.

HMRC has updated its guidance with information on which trusts are to be registered and which are not.

The Scottish Government has launched a consultation seeking the public’s views on its overarching approach to tax policy, through Scotland’s first framework for tax, and how the Scottish Government should use its devolved and local tax powers as part of the Scottish Budget 2022–23, particularly to support the ongoing economic recovery from coronavirus (COVID-19). The consultation also outlines the Scottish Government’s tax programme for this Parliament.

23 August 2021 - 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 87 (August 2021) providing a round-up of recent developments for tax agents and advisers.

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

HMRC has added the UK-USA Competent Authority Agreement signed in July 2021 to its international treaty collection.

HMRC has published two new guidance on how to use the online services to register a deceased person’s estate as a personal representative and to manage taxpayer’s estate details.

The Association of Taxation Technicians (ATT) has shared an update from HMRC with its members regarding the Trust Registration Service (TRS). This is to help raise awareness of the need for non-taxable trusts to register their details with HMRC once the service is open. There is also an opportunity for trustees to participate in a development trial.

The initial draft clauses for the 2022 Finance Act were published on 20 July 2021 and include more detail on previously announced proposals. Whilst the Government refers to it as draft legislation for Finance Bill 2021/22, in this commentary, for clarity, it is referred to as Draft Finance Bill 2022. The final contents of the Bill will be subject to confirmation at a later date, expected to be in the Autumn, though it is uncertain whether this will be combined with an Autumn Budget.

The Chartered Institute of Taxation (CIOT) has published its response to the HMRC call for evidence on the tax administration framework: supporting a 21st century system.

HMRC has released a new online inheritance tax (IHT) guidance tool to support customers who are unfamiliar with the IHT process and who need guidance on whether they will need to pay IHT and what forms they need to complete.

HMRC has updated its general anti-abuse rule (GAAR) guidance with effect from 16 July 2021.

HMRC has updated the PDDD1 letter it sends out before publishing a taxpayer’s details following a deliberate inaccuracy penalty.