Technical

Double tax treaties: review of treaty policy positions

Sacha Dalton |
21 September 2022

CIOT has responded to an informal consultation by HMRC in relation to the UK’s policy position in negotiating treaties around permanent establishments and changes to the Model Treaty introduced by the Multilateral Instrument entered into following the OECD/G20 BEPS project. The informal consultation also asked about remote working across borders, and the potential impact for permanent establishments.

Employment TaxInternational Tax

Decentralised finance (cryptoassets): HMRC call for evidence

Chris Thorpe |
21 September 2022

The CIOT has responded to the recent government consultation on Decentralised Finance in relation to cryptoassets, addressing the future tax treatment of lending and staking.

General FeaturesPersonal tax

Green guidance

Jayne Simpson, Helen Thornley |
21 September 2022

Whilst the government’s ‘Ten Point Plan for a Green Revolution’ policy paper sets out its ten priority strategic aims for the UK to move towards net zero, it is not always so straightforward to find out via gov.uk if there are associated tax incentives or taxes that seek to change polluting behaviour that need to be considered.

General Features

Online VAT registration

Jayne Simpson, Emma Rawson |
21 September 2022

HMRC launched its new online VAT registration system on 1 August 2022, which brings the system onto the same mainframe as Making Tax Digital. Members have subsequently been raising troubleshooting concerns with the CIOT and ATT.

Indirect Tax

The two-pillar solution to international tax: where we are now?

Sacha Dalton |
21 September 2022

Work continues by the OECD/G20 Inclusive Framework on BEPS on the two-pillar solution agreed in October 2021 that is intended to address the challenges arising from the digitalisation of the global economy. The CIOT has recently considered a Progress Report from the OECD on Pillar One and draft legislation published by the UK government that will implement Pillar Two in the UK.

International Tax

Business rates revaluation 2023

Kate Willis |
22 August 2022

Business rates revaluations are moving to a three-year cycle from April 2023. The CIOT responded to the consultation on the form of transitional measures to phase-in increases in rates bills for the 1 April 2023 revaluation.

General FeaturesLarge CorporateOMB

Stamp duty land tax: company addresses for service of documents

Kate Willis |
22 August 2022

The CIOT responded to a recent consultation on draft regulations to extend the stamp duty land tax (SDLT) deemed service provisions to a company’s registered office address and to the address provided in the SDLT return.

Large CorporateManagement of taxesOMB

HM Treasury: Consultation on a new Statutory Debt Repayment Plan

Antonia Stokes |
22 August 2022

LITRG has responded to HM Treasury’s consultation on draft regulations to introduce a new Statutory Debt Repayment Plan.

General Features

Low-income trusts and estates

Helen Thornley, John Stockdale |
22 August 2022

The CIOT and ATT both responded to the recent consultation by HMRC on reducing the reporting requirements for low-income trusts and estates.

Management of taxesPersonal tax

Postponed VAT accounting and the non-business use issue

Jayne Simpson |
22 August 2022

Postponed VAT accounting was introduced on 1 January 2021, as a method of deferring the payment of import VAT from the time at which the goods are imported at the UK border to their inclusion in the next VAT return. The aim of the administrative simplification was to increase efficiency at the UK border and ease the VAT cash flow burden on business when importing goods as a result of changes following the UK’s exit from the EU. The postponed VAT accounting scheme includes imported goods both from the EU and outside of the EU, as these are treated the same following Brexit.

Indirect Tax