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HMRC has launched a consultation on potential reforms to the UK legislation on transfer pricing, permanent establishments, and diverted profits tax. The consultation will close on 14 August 2023.

HMRC has published Agent Update issue 109 (14 June 2023) providing a round-up of recent developments and changes to legislation and allowances relating to UK tax for tax agents and advisers.

The Chancellor has put forward several amendments, including two new clauses, which will be considered in the House of Commons at Report Stage on 20 June 2023 (rescheduled from the original 19 June date).

The OECD Forum on Tax Administration (FTA) launches peer-to-peer support for developing countries on the implementation of the Two-Pillar.

HMRC has launched a consultation seeking views on the proposal to introduce a voluntary standard for customs intermediaries, with the aim of improving the quality of service across the sector.

The Chartered Institute of Taxation (CIOT) has responded to the HM Treasury consultation on Reserved Investors Fund (RIF).

The National Audit Office (NAO) has published a report, Progress with Making Tax Digital. The report considers progress to implement Making Tax Digital, and whether HMRC’s latest plans provide confidence that the programme will deliver value for money.

12 June 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

HM Treasury has announced that the Energy Profits Levy, which puts a marginal tax rate of 75% on North Sea oil and gas production, will remain in place until March 2028. The tax rate will fall back to 40%, the rate before the Energy Profits Levy was introduced, when the oil and gas prices consistently return to normal levels for a sustained period.

Uzbekistan has become the 143rd country to join the OECD’s inclusive framework on BEPS.

HMRC has launched a technical consultation seeking views on policy options to regulate umbrella companies and to tackle non-compliance in the umbrella company market.

HMRC has published Charities Newsletter 1 which is a new publication to keep the charities sector informed about relevant updates.

HMRC has launched a consultation to seek views and gather evidence on the current usage of the Save As You Earn (SAYE) and Share Incentive Plan (SIP) employee share schemes and whether they are effective in achieving their stated policy objectives. The deadline for response is 5 pm on 25 August 2023.

HMRC has published two new guidance pages on the economic crime levy (ECL) - the annual charge on entities who are supervised under the Money Laundering Regulations and whose UK revenue exceeds £10·2 million per year.

HMRC has published Agent Update issue 108 (24 May 2023) providing a round-up of recent developments and changes to legislation and allowances relating to UK tax for tax agents and advisers.

On 19 May 2023, Guernsey, Jersey and the Isle of Man made a joint statement on their intentions in respect of the global initiative to set a minimum effective tax rate for the world's largest multinational enterprises.

Viet Nam has deposited its instrument of ratification for the BEPS Multilateral Convention.

HMRC has updated its guidance on completing a tax check for renewing taxi, private hire or scrap metal licenses.

22 May 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

The text of the 2023 UK-San Marino Double Taxation Convention has been added to the HMRC tax treaties page.