HMRC manual changes: 21 July 2023

Direct taxes

Manual	Page	Comments
Company Taxation Manual	Update: CTM35160	Guidance on income tax updated to clarify that extended time limits include those which apply to loss of tax brought about carelessly or deliberately (TMA 1970 s 36) and loss of tax involving an offshore matter or offshore transfer (TMA 1970 s 36A).
Corporate Finance Manual	Updates: CFM33010–CFM33150	Guidance on the taxation of loan relationships updated for changes introduced by Finance (No 2) Act 2015 which took effect on 1 January 2016. Updates cover the following topics: • the scope of the loan relationships regime • ‘following the accounts’ • amounts taken to carrying value of an asset or liability • change in accounting basis • amounts recognised in other comprehensive income (OCI) • direct in equity • other types...

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Direct taxes

Manual	Page	Comments
Company Taxation Manual	Update: CTM35160	Guidance on income tax updated to clarify that extended time limits include those which apply to loss of tax brought about carelessly or deliberately (TMA 1970 s 36) and loss of tax involving an offshore matter or offshore transfer (TMA 1970 s 36A).
Corporate Finance Manual	Updates: CFM33010–CFM33150	Guidance on the taxation of loan relationships updated for changes introduced by Finance (No 2) Act 2015 which took effect on 1 January 2016. Updates cover the following topics: • the scope of the loan relationships regime • ‘following the accounts’ • amounts taken to carrying value of an asset or liability • change in accounting basis • amounts recognised in other comprehensive income (OCI) • direct in equity • other types...