Since last month’s Budget, the government published its consultation paper covering the proposed extension of CGT to non-UK residents. HMRC has closed a consultation in relation to charities and tax avoidance, and released new guidance on VCTs. The recently published Finance Bill 2014 extends restrictions on deducting liabilities for inheritance tax purposes to UK foreign currency bank accounts. A new strict liability offence for failing to declare offshore income is being proposed. The Court of Appeal has helped taxpayers in the Lord Howard case and professional advisers in the Mehjoo case.
