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HMRC’s Stakeholder Digest (11 May 2022) provides a round-up of the latest news and updates including information on financial support for SME businesses, tax-free childcare, tax credit renewals, Moscow stock exchange status, guidance on tax on tips, gratuities and service charges, EU import controls and data on transfer pricing and Diverted Profits Tax.

The Welsh government has reached an agreement with the UK government on the establishment of freeports in Wales.

These Regulations extend the effect of the DOTAS provisions in FA 2021, which allow HMRC to issue notices where it reasonably suspects that arrangements are notifiable tax arrangements, to NICs arrangements.

These Regulations will exempt three new social security payments from income tax with retrospective effect from the date of their respective introductions.

Opening the 2022–23 Parliamentary session on 10 May 2022, the Queen's Speech set out the UK Government's legislative priorities including the following:

HMRC has updated its tax credits guidance to confirm that tax-free pension lump sums should not be included in income for the purposes of tax credits claims and renewals.

HMRC has increased the interest rates for late payments of tax following the Bank of England’s decision on 5 May 2022 to increase the bank base rate from 0.75% to 1%.

The Government has issued a publication aiming to kickstart a conversation with businesses on reforming the UK’s capital allowances regime.

HMRC has published its Trusts and Estates Newsletter for April 2022.

The CIOT publishes updated note, prepared by the CIOT, STEP and ICAEW, on HMRC’s approach to the treatment of loans secured on foreign income or gains by remittance basis users

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

HMRC has published pension schemes newsletter 138, to update stakeholders on the latest news and updates regarding pension schemes.

These Regulations provide for an exemption from income tax on income earned in the UK by certain non-resident accredited individuals in connection with the 2022 Birmingham Commonwealth Games.

These Regulations provide for an exemption from income tax on income earned from activities in the UK in connection with the Finalissima Football Match between Italy and Argentina which is due to be held in London in June.

HMRC’s Stakeholder Digest (27 April 2022) provides a round-up of the latest news and updates including information on the tax credit renewals, use of a new online service to report fraud and information on the International Tax Enforcement Summit which is to be held in May 2022.

These Regulations provide for an exemption from income tax on income earned from activities in the UK in connection with the UEFA Women’s Euro 2022 finals tournament which is due to be held in England in July.

These regulations amend the Taxation of Securitisation Companies Regulations 2006, SI 2006/3296 (TSCR). The TSCR introduced new tax rules with effect from accounting periods beginning on or after 1 January 2007 for securitisation companies involved in the securitisation of financial assets.

These Regulations amend the International Tax Compliance Regulations 2015, SI 2015/878 (the principal Regulations) to bring additional international exchange arrangements within scope. The principal Regulations apply to arrangements entered into by the UK by a given date. This date is periodically extended, this time to 20 April 2022.

The First-tier Tribunal (FTT) has published guidance on taking oral evidence from abroad.

The Pensions and Lifetime Savings Association (PLSA) has issued additional information on HMRC’s GMP equalisation guidance on pensions tax considerations when equalising benefits for the effects of inequalities in GMPs. PLSA clarifies the tax treatment of the interest element, particularly in relation to tax due and responsibilities of pension schemes to deduct the tax due at the source.