IN BRIEF

Rachel Austin believes the proposed tax relief for creative industries will increase UK competitiveness in that sector but only if the rate is sufficiently competitive

Deciding whether or not to take up HMRC’s offer of settlement in relation to EBT arrangements is often the easy part, James Hume writes.

HMRC's history of ensuring its anti-avoidance provisions comply with the fundamental freedoms of EU law is not a happy one. On 30 July, it released its consultation document into reforming the rules around the transfer of assets abroad (in ITA 2007 ss 714–751) and the attribution of gains in TCGA 1992 s 13. It appears to be up to its old tricks again.

The government has now released its consultation document on Decommissioning relief deeds – its proposal to address problems caused by uncertainty within the oil industry about the availability of future tax relief for decommissioning costs. There remains further work to be done to reconcile the dual aims of achieving certainty and protecting Treasury coffers.

The recent opinion of the Advocate General (AG) in the franked investment income group litigation order case (case C-35/11) (commonly referred to as FII GLO) hasn’t shed much light on how the case will eventually be decided.

The decision of the CJEU in the Deutsche Bank case (C-44/11) has confirmed that discretionary portfolio management should be treated as one composite taxable supply. This calls into question HMRC’s current policy in this area and raises concerns about its recently issued guidance in respect of the retail distribution review.

The courts are absolutely correct to resist attempts by taxpayers to recognise a connection between determining liability for tax under the taxing legislation and monies paid in satisfaction of a confiscation order made under the Proceeds of Crime Act 2002.

HMRC is consulting on potential changes to ESC A19, including introducing a concept of ‘taxpayer responsibility’. The concession performs a very important function and should largely be left as it is.

The suggestion, made by Margaret Hodge who chairs the Public Accounts Committee, that the tax affairs of publicly quoted companies should ‘be opened to public account’ (The Times, 25 June) has a superficial attraction. Daylight is famously the best...

The First-tier Tribunal case of Robinson Family Ltd [2012] UKFTT 360 has challenged the HMRC orthodoxy that the grant of a lease can never be a transfer of going concern (TOGC) for VAT purposes. However, it is too early to say that HMRC's stance in this area has been completely swept away.