In brief: 9 June 2022

Practice direction

The president of the First-tier Tribunal has published a new practice direction which gives guidance to the tribunal on the types of cases that should normally be allocated to the four categories set out in the Tribunal Procedure (First-tier Tribunal) (Tax Chamber) Rules 2009. The direction takes effect from 1 June 2022.

tinyurl.com/fttpdmay22

Digital platform

In Agent Update 96 HMRC confirms that the new UK rules for digital platform reporting will start from 1 January 2024 with submission of the first reports due by the end of January 2025. The rules had previously been expected to come into force from January 2023.

tinyurl.com/hmrcau96

Mismatch rules

The government has launched a technical consultation seeking views on draft regulations that will remove a sunset clause from the hybrid and other mismatches rules so that an exemption for hybrid instruments issued...