Tax Bites - May 2021

• Published date: 10 May 2021
• Subject Matter: Employment and HR, Tax, Employee Benefits & Compensation, Income Tax, Tax Authorities
• Law Firm: Reynolds Porter Chamberlain
• Author: Mr Adam Craggs and Constantine Christofi

Welcome to the latest edition of RPC's Tax Bites - providing monthly bite-sized updates from the tax world.

As always, if there are any areas you would like more information on (or if you have any questions or feedback), please let us know or get in touch with your usual RPC contact.

News

New SDLT surcharge for non-UK residents

Following the Chancellor's announcement in his Spring Budget 2021, HMRC has released guidance on the new 2% surcharge for non-UK residents who acquire residential property in England and Northern Ireland. Read more

HMRC publishes new Employment-Related Securities Bulletin

HMRC's Employment-Related Securities Bulletin 38 provides an update on recent developments including enterprise management incentive work time requirements. Read more

OECD invites comment on its proposed changes to the Commentary on Article 9 of its Model Tax Convention

The OECD has invited comment from interested parties on a public discussion draft regarding their proposed changes to the Commentary on Article 9 and other related articles of its Model Tax Convention. Read more

HMRC amends its Employment Income Manual

HMRC has announced amendments to its Employment Income Manual EIM13877, EIM13886 and EIM13888 to reflect changes contained in the Finance Bill 2021, to the provisions on post-employment notice pay (PENP). These changes came into effect on 6 April 2021. Read more

Cases

Ball Europe - Accounting entry not included in tax return sufficient to preclude discovery assessment

In Ball Europe Ltd v HMRC [2021] UKFTT 23 (TC), the First-tier Tribunal (FTT) has held that the presence of amounts in a taxpayer's accounts but not its tax return was sufficient for a 'hypothetical officer' of...