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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.

HMRC has launched a consultation seeking views on legislative proposals to extend an existing concession that removes trusts and estates from Income Tax where the only source of income is savings interest and the tax liability is below £100. Trustees and personal representatives with experience of low-income trusts and estates are called to respond. The consultation closes at 11:45pm on 18 July 2022.

HMRC has published updated road fuel scale charge tables for VAT which apply from 1 May 2022.

HMRC has published the April 2022 edition of the HMRC Trusts and Estates Newsletter.

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

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

HMRC has updated its import, export and customs guidance to reflect the post-Brexit regime. The update covers the period from 18 April 2022 to 25 April 2022.

The OECD has received responses to the consultation on the Draft Model Rules for Domestic Legislation on Scope under Pillar One Amount A.

HMRC has published the Company Losses Toolkit for 2021-22.

HMRC has updated its guidance to reflect its change of policy on the VAT treatment of early termination payments under a lease which, from 1 April 2022, are generally treated as subject to VAT.

Belize and Cameroon have deposited their instruments of ratification with the OECD for the BEPS Multilateral Instrument.

The ATT has shared an update on how HMRC is recovering Self-Employment Income Support Scheme (SEISS) grants where taxpayers need to repay some or all of their grant.

HMRC has published Agent Update issue 95 (April 2022) providing a round-up of recent developments for tax agents and advisers.

HMRC has announced its intention to revoke the Moscow Stock Exchange’s status as a recognised stock exchange for tax purposes.

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

HMRC has updated its guidance on settling disguised remuneration with the latest information to help taxpayers settle their liabilities, and with HMRC’s operational plans for April 2022 to March 2023.

The OECD is seeking public comments on the Extractives Exclusion under Amount A of Pillar One of the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy which introduces a new taxing right over a portion of the profit of large and highly profitable enterprises for jurisdictions in which goods or services are supplied or consumers are located.