Developments of interest are outlined.

• HMRC have reminded financial institutions that the deadline for submitting Automatic Exchange of Information returns for the year ended 31 December 2016 was 31 May 2017.
• The United Arab Emirates has signed up to the OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters
• The International Tax Compliance (Amendment) Regulations 2017 have been published, which amend the International Tax Compliance Regulations 2015 to bring intro scope additional international exchange agreements
• The guidance on income tax rates and allowances for the current and previous 3 tax years has been updated
• The Criminal Finances Act 2017 received Royal Assent on 27 April 2017. Included within the Act are the new corporate criminal offence provisions which are expected to take effect in September 2017
• HMRC has published updated GAAR Guidance, as at 31 March 2017
• HMRC have updated their Company Tax Return Guide and the Corporation Tax: Restitution Tax (CT600K) form has been published. Details of HMRC’s approach to mandatory online filing at the end of a company’s life have also been published
• A briefing explains changes to the PAYE tax system that will be introduced from the end of May 2017 has been published
• The draft legislation which will remove the VAT use and enjoyment provision for business to consumer telecommunication services has been published.
• Advisory fuel rates which apply from 1 June 2017 are available
• The form to claim the new residence nil rate band has been published for the first time
• The list of overseas corporate lenders who are recognised passport holders under the Double Taxation Treaty Passport scheme has been updated