Weekly tax highlights ― 5 July 2021

Produced by Tolley
Weekly tax highlights ― 5 July 2021

The following Owner-Managed Businesses guidance note Produced by Tolley provides comprehensive and up to date tax information covering:

  • Weekly tax highlights ― 5 July 2021
  • Finance Act
  • The Finance Act 2020, Schedule 11 (Appointed Day) (Northern Ireland) Regulations 2021
  • The Finance Act 2021, Section 95 and Schedule 18 (Distance Selling: Northern Ireland) (Appointed Day No. 1 and Transitory Provision) Regulations 2021
  • Coronavirus (COVID-19)
  • HMRC issue briefing: Collecting tax debts after coronavirus
  • Direct taxes
  • National Insurance Contributions Bill 2021/22: Committee stage
  • The UK Property reporting service and its interaction with self assessment
  • Making Tax Digital for Income Tax Self Assessment: policy update
  • More...

Weekly tax highlights ― 5 July 2021

Finance Act

The Finance Act 2020, Schedule 11 (Appointed Day) (Northern Ireland) Regulations 2021

Regulations SI 2021/740 provide for 29th June 2021 to be the appointed day for the commencement of FA 2020, Sch 11, paras 8 and 13.

These Regulations provide for 29th June 2021 to be the appointed day for the commencement of FA 2020, Sch 11, paras 8 and 13 (which relate to restrictions on the use of certain fuel for private pleasure craft) for the purpose of making regulations in relation to Northern Ireland under the power in new section 14E(7) of and the amended Hydrocarbon Oil Duties Act 1979, Sch 4. 1st October 2021 is appointed as the day for the commencement of paragraphs 1 to 17 of the Schedule for all other purposes also in relation to Northern Ireland.

The Finance Act 2021, Section 95 and Schedule 18 (Distance Selling: Northern Ireland) (Appointed Day No. 1 and Transitory Provision) Regulations 2021

Regulations SI 2021/770 bring into force the bulk of the provisions in FA 2021, Sch 18 related to VAT and distance selling from 1 July 2021. Schedule 18 implements Council Directive (EU) 2017/2455 so far as relevant to the UK’s obligations under the Ireland / Northern Ireland Protocol. These are the first appointed day Regulations made under FA 2021, s 95.

These Regulations bring into force FA 2021, Sch 18 and FA 2021, s 95(1) to the extent that those provisions are not already in force and subject to a number of exceptions and restrictions.

Schedule 18 introduces two new special accounting schemes ― the one-stop shop and the import one-stop shop (IOSS) for Northern Ireland. Both schemes are EU-wide schemes which come into effect on 1 July 2021.

Much of the new Schedule 9ZE which is inserted into VATA 1994 is excepted from the general commencement provisions. That Schedule introduces the IOSS for persons making supplies of goods to Northern Ireland or into the EU from non-EU countries, although certain transitory provisions will apply until 31 December 2021 modifying references to the

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