HMRC have issued their Agent Update for July 2022. We have summarised the key content for you with links to our detailed guidance on the topics covered. 

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The government has published policy papers and draft legislation with its new proposals for the 2022-23 Finance Bill. You may have heard of some of the new measures but as always in tax, 'the devil is in the detail'.

Wednesday was Legislation Day 'L-day' when the government published some of the draft legislation and consultations that will form Finance Bill 2022-23. Key highlights include measures to relax the CGT rules for divorcing couples, and for LLPs and Scottish partnerships, the tax treatment of farmers' Lump Sum exit schemes, reforms to net pay pensions, tax relief on homes for Ukraine and changes to Research & Development relief.

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This week questions have been asked as to whether some of the Conservative leadership candidates' plans for tax cuts are viable. Others are asking how can tax help us reach Net Zero? What do you think about crypto-assets: uncanny investment opportunities or no better than a Ponzi Scheme?

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Amidst a very exciting day at Westminster, we hope that you have some time for tax! We have a Corporation Tax ‘what’s new’ for 2022 for you this week and news of Making Tax Digital software and requirements.