Since my last article we have seen both the Autumn Statement and the draft clauses for Finance Bill 2013. Draft regulations to implement the intergovernmental agreement on FATCA were also published plus confirmation that similar arrangements will be put in place between the UK and Isle of Man. The European Commission published recommendations to tackle tax avoidance and evasion whilst at home the Treasury is consulting on the balance of powers between the UK and EU in relation to taxation. The US just avoided falling over the ‘fiscal cliff’ and a tax case in India looks at the force of attraction principle under the treaty with the UK.
