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Dec 7, 2023 | 
taxjournal.com | Hugh Gunson |David Whiscombe |Tom Wallace |David Wilson
Manual Page Comments Capital Gains Manual Updated: CG57800 Introductory guidance on capital distributions has generally been revised with sections added on demergers and share reorganisations along with new examples. Some of this guidance had previously been included at CG57810 and CG57814 (both of which have been archived). Updated: CG72101 Clarification of the date of disposal for CGT purposes for transactions involving compulsory purchase.
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Dec 6, 2023 | 
taxjournal.com | Chris Nyland |Tom Wallace |David Wilson |Jack Jones
The illusion of choice: the CIS in the DRC © Copyright LexisNexis 2023. All rights reserved. 6 December 2023 Speed read Next March, the VAT domestic reverse charge turns three, and problems are beginning to emerge. These can be traced to fumbles with the exceptions to the DRC: the corners HMRC cut by pegging the DRC to the construction industry scheme; and the diversion it took to make end user status optional, rather than mandatory.
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Dec 6, 2023 | 
taxjournal.com | Hugh Gunson |David Whiscombe |Tom Wallace |David Wilson
New analysis on the tax contribution of FTSE 100 and several other large UK companies for 2022/23 shows that the ‘total tax contribution’ increased by £8.3bn to £89.8bn (amounting to 10% of total government receipts).
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Dec 6, 2023 | 
taxjournal.com | Hugh Gunson |David Whiscombe |Tom Wallace |David Wilson
In recent weeks, there has been increasing publicity around various tax avoidance schemes which have been promoted to landlords with the promise of significant tax savings. An arrangement devised by Property118 and Cotswold Barristers has attracted particular attention, including in a series of detailed articles from Tax Policy Associates. The potential consequences for over 1,000 buy-to-let landlords may include significant unintended tax liabilities and possible mortgage default.
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Dec 6, 2023 | 
taxjournal.com | Hugh Gunson |David Whiscombe |Tom Wallace |David Wilson
Home >Articles > HMRC issues new IR35 guidance
HMRC issues new IR35 guidance
6 December 2023
HMRC have published new guidance on the off-payroll working rules, particularly around status determinations for off-payroll workers. This is the latest in HMRC’s series of ‘Guidelines for Compliance’.
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Dec 6, 2023 | 
taxjournal.com | Hugh Gunson |David Whiscombe |Tom Wallace |David Wilson
Home >Articles > UK-New Zealand tax treaty dispute resolution arrangements published
UK-New Zealand tax treaty dispute resolution arrangements published
6 December 2023
HMRC have published the text of a Memorandum of arrangement which sets out how the UK and New Zealand intend to apply the arbitration provisions in Part 6 of the BEPS Multilateral Instrument.
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Dec 6, 2023 | 
taxjournal.com | Hugh Gunson |David Whiscombe |Tom Wallace |David Wilson
The Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) (No. 2) Regulations, SI 2023/1306, update the list of countries in relation to which extra anti-money laundering due diligence requirements apply. Bulgaria, Cameroon, Croatia, Nigeria, South Africa and Vietnam have been added to the list, while Albania, Cayman Islands, Jordan and Panama have been removed. The full list is set out in Schedule 3ZA to the principal Anti-Money Laundering Regulations (SI 2017/692).
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Dec 6, 2023 | 
taxjournal.com | Hugh Gunson |David Whiscombe |Tom Wallace |David Wilson
Home >Articles > Full customs controls from 31 January 2024
Full customs controls from 31 January 2024
6 December 2023
HMRC have that some goods will be subject to full customs controls when moved from the Republic of Ireland to Great Britain on and after 31 January 2024. Goods moving from Northern Ireland to Great Britain via Irish ports will also be subject to controls where, for example, the goods are ‘non-qualifying NI goods’ or are excise goods (e.g. alcohol or tobacco).
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Dec 6, 2023 | 
taxjournal.com | Paul Farey |Tom Wallace |David Wilson |Jack Jones
Capital allowances: a question of design? © Copyright LexisNexis 2023. All rights reserved. 6 December 2023 Speed read The Upper Tribunal decision in Gunfleet Sands clarifies the meaning of qualifying expenditure ‘on the provision of’ plant for capital allowances purposes.
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Dec 6, 2023 | 
taxjournal.com | Hugh Gunson |David Whiscombe |Tom Wallace |David Wilson
New research from tax technology company Vertex suggests that up to 75% of global businesses accept a certain level of tax compliance risk in relation to indirect taxes.
