Five things you need to know about tax, 28 January 2022

In Irish tax developments, Minister for Finance Paschal Donohoe announced changes to Covid related supports and CCAB-I responds to the Commission on Taxation and Welfare’s recent public consultation. On the UK front, HMRC are currently sending anti-money laundering supervision letters to members of professional bodies – read our advice on what to do. While in international news, the EC have launched a public consultation on VAT rules in the digital age.

     Ireland

1. Last Friday, Minister for Finance Paschal Donohoe announced changes to a number of economic supports available to businesses. Read our recent coverage on these updates here.
2. In a response to the Commission on Taxation and Welfare’s public consultation ‘Your Vision, Our Future’, CCAB-I offered practical solutions to several difficulties experienced by accountants across Ireland’s tax system. Read the full response here.

   UK              

3. Read our advice for members who receive an anti-money laundering supervision letter from HMRC.
4. The statutory sick pay rebate scheme has now relaunched for certain employers.

   International

5. The European Commission has launched a public consultation on VAT rules in the digital age ahead of a new legislative package due later this year that will cover digital reporting and e-invoicing requirements for businesses across the EU, new rules for the platform economy, and a single registration for companies in the EU. Read more about the initiative here.

Keep up to date with all the latest Irish, UK, and international tax developments through Chartered Accountants Ireland’s Tax Newsletter. Subscribe to the Tax News by updating your preferences in MyAccount.