Official statistics published this week on HMRC’s transfer pricing and diverted profits tax (DPT) activity show that HMRC’s increasing international focus has been effective in achieving its intended results. The statistics highlight the sustained increase in the risks faced by multinational corporate groups dealing with the complex and ever changing international tax environment.
The Supreme Court's decision in Taylor Clark Leisure is important news for those considering who is entitled to submit a claim on behalf of a VAT group that has overpaid its VAT.
Draft legislation for Finance Bill 2019 sets out that changes to cars and vans under salary sacrifice are due to 'an oversight'.
The draft Finance Bill 2019 contains provisions for a complete overhaul of the penalties systems. If implemented, it will, from a date yet to be announced, introduce penalties for the late payment of corporation tax. In addition, there would be a single penalty system for all the main taxes (income tax, capital gains tax, VAT and corporation tax).
HMRC is consulting on changes to the powers which it has to obtain documents from third parties, such as banks, when investigating somebody's tax affairs. The proposals have generated much adverse comment in the media because they would remove safeguards which currently exist to prevent HMRC from using its powers indiscriminately.
The First-tier Tribunal has not taken a consistent approach in deciding whether or not there is a reasonable excuse for non-resident capital gains tax (NRCGT) being filed late.
The OTS has published a paper suggesting that some form of PAYE mechanism might be applied to self-employed workers using online platforms to source work. How realistic a possibility is this, given that we have heard only recently that HMRC has halted progress on its ‘dynamic coding’ project to get PAYE right for employees?
The latest HMRC statistics relating to flexible pension withdrawals under the 2015 reforms give an interesting indication of how pensions have been affected by policy changes.
HMRC’s recent guidance on mutuality of obligation over-looks the necessary higher level of obligation required.
Long-concealed contradictions are finally being revealed.