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The Chartered Institute of Taxation (CIOT) has shared HMRC guidance on how businesses should account for VAT while waiting for HMRC to approve (or otherwise) their VAT grouping applications.

HMRC has updated its guidance on the Self-Employment Income Support Scheme (SEISS) to ask self-employed individuals and members of partnerships who were unable to make a claim due to HMRC error to contact HMRC by 28 February 2022.

HMRC is urging tax agents and accountants to remind their clients that COVID-19 support grants or payments are taxable and should be declared on their company tax returns.

HMRC has launched a consultation seeking views on domestic implementation of the OECD Pillar Two rules for a worldwide 15% minimum corporation tax rate for large multinational groups.

The Association of Taxation Technicians has reported that HM Revenue and Customs (HMRC) has updated its guidance on capital gains tax (CGT) on UK property returns, specifically adding a section on the interaction between the UK Property Reporting Service and 2020/21 self-assessment returns. This section covers the situation where a taxpayer has paid more CGT on their property return than is found on completion of the self-assessment return. It also covers the situation where a taxpayer is unable to pay CGT on their property return as the payment reference has not yet been issued but is ready to file their 2020/21 tax return.

The CIOT has published the latest HMRC Stakeholder Digest (6 January 2022) which provides a round-up of the latest news and updates.

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.

10 January 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 20 December 2021 to 10 January 2022.

HMRC has issued a reminder for VAT-registered businesses to take steps to prepare for Making Tax Digital for VAT before it becomes mandatory from 1 April 2022.

HMRC’s VAT Brief 1 (2022) announces a review of how VAT is reclaimed on the cost of charging electric vehicles that are used for business purposes and how to account for VAT on any private use.

The Chancellor of the Exchequer has commissioned the Office for Budget Responsibility to produce an economic and fiscal forecast for Wednesday 23 March 2022.

The Welsh Parliament is consulting on a Bill to give Welsh ministers powers to modify the Welsh Taxes Acts for various purposes.

Tunisia has committed to implement the international Standard for Automatic Exchange of Financial Account Information in Tax Matters (AEOI) by 2024, which makes Tunisia the 121st Global Forum member to commit to start AEOI by a specific date, and the tenth African country to do so.

The CIOT has published the latest HMRC Stakeholder Digest (22 December 2021) which provides a round-up of the latest news and updates.

SI 2022/5 The Statutory Sick Pay (Coronavirus) (Funding of Employers’ Liabilities) Regulations 2022 and SI 2022/9 The Statutory Sick Pay (Coronavirus) (Funding of Employers’ Liabilities) (Northern Ireland) Regulations 2022 provide for the reintroduction the Coronavirus Statutory Sick Pay Rebate Scheme (SSPRS) from 21 December 2021.

HMRC has announced that the late filing and late payment penalties for self-assessment taxpayers will be waived for one month, giving them extra time to complete the 2020/21 tax return and pay any tax due. The filing and payment deadline of 31 January 2022 will remain unchanged.

The European Commission has presented proposal of a Directive laying down rules to prevent the misuse of shell entities for tax purposes.

The European Commission has proposed a Directive ensuring a minimum effective tax rate for the global activities of large multinational groups.

In the ever-fast-moving world of tax announcements and developments, this news pulls together some of the key changes announced between 23 December 2021 to 4 January 2022. Our commentary will be updated in due course to reflect these latest developments.