Issue 1337

Analysis

• The state of tax today
• HMRC’s priorities and challenges in 2017
• Tax and the City briefing for January 2017
• VAT briefing for January 2017

In brief

• Draft Finance Bill 2017: private client points
• Is the UK doing a U-turn on BEPS?
• State aid developments: Santander and Apple
• The meaning of ‘registrable’ for VAT purposes

News

• Press watch: CCCTB
• New corporate tax focus on minimising risk
• VAT rate for Romania
• New financial reporting standards
• BEPS Action 6 and treaty entitlement of non-CIV funds
• Canada tax treaty
• Kazakhstan, Côte d’Ivoire and Bermuda join BEPS inclusive framework
• NAO report reveals delay in HMRC office closure plans
• Consultation on withdrawal of four extra-statutory concessions
• HMRC guidance
• Spring Budget to take place on 8 March 2017
• Apprenticeship levy: further consultation
• FRS 102: income tax implications
• Loan relationships and derivative contracts
• Oil and gas taxation: decommissioning relief deeds
• Bank levy
• Scottish government freezes income tax rates for 2017/18
• Sporting testimonial payments
• ATED indexation
• Consultations on reform of EU VAT
• Relief from fuel duty for recovered unleaded petrol vapour
• Scottish government introduces Bill for new air departure tax
• OECD releases additional guidance on BEPS action 4
• EU exchange of information on tax rulings enters into force
• New bilateral exchange agreements for CRS information
• Double taxation arrangements: Guernsey, Jersey, IOM
• EU presents draft anti-money-laundering directive amendments
• European Commission proposes tighter cash controls to reinforce customs union
• Turkmenistan tax treaty
• Exchange of beneficial ownership information
• New penalties for enablers of offshore tax evasion
• UK and Welsh governments agree fiscal framework
• New HMRC guidance

Cases

• L Sjumarken v HMRC
• In European Commission v World Duty Free Group (Case C-20/15p), Banco Santander (Case C-21/15p) and Santusa Holding (Case C-21/15p)
• Totel v HMRC
• Gala 1 v HMRC
• Mr D v HMRC
• GB Housley v HMRC

One minute with

• One minute with... Stephen Herring

Ask an expert

• Corporation tax deductions for abortive transaction fees