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The UK has published the Stamp Duty Land Tax (Administration) (Amendment) Regulations following a short, technical consultation on this instrument between October and November 2018. The Regulations are broadly identical to the draft regulations. The explanatory memorandum to the Regulations states that HMRC plan to address most of the comments that were made on the technical aspects of the instrument in guidance.
HMRC published a call for evidence on 19 December 2018 on electronic sales suppression (ESS). The intention of the consultation is for the Government to better understand how modern technology is being exploited for the purposes of ESS (i.e. where businesses or individuals use technology to artificially reduce their reported sales and corresponding tax liabilities); what the potential scale of tax evasion is in this area; and how the electronic point of sale industry can help prevent this non-compliant activity. This consultation closes on 20 March 2019.
On 19 December 2018, HMRC published guidance on the tax treatment of cryptoassets which covers various issues including: paying income tax and national insurance contributions when receiving cryptoassets from employment or mining; paying capital gains tax when selling or giving away cryptoassets; and operating PAYE when paying employees with assets that can be sold or cashed in, such as stocks, shares or cryptoassets.
HMRC have published draft guidance about the corporation tax treatment of insurance companies writing life assurance and other long-term insurance business for consultation. The draft guidance has been published to explain the application of the legislation introduced in Finance Act 2012 effective from 1 January 2013. The deadline for comments is Friday 22 February 2019.