Issue 1480

Analysis

• Tax and the City review for March 2020
• OECD’s consultation on data sharing by platform operators
• Local variations in DAC 6 implementation
• Knowing when there is an enquiry: form over substance?
• Pillar one: what’s next?
• US tax reform: recent changes and next steps

In brief

• Review of UK fund taxation: yes but
• Some Budget reflections
• Case law on selling toilet rolls
• EU watch: European Commission will unveil tax plans in June

News

• Government delays IR35 changes and unveils rescue package for businesses hit by coronavirus
• Consultation on tax treatment of asset holding companies in alternative fund structures
• Enhanced capital allowances in designated assisted areas
• Secondary NICs on termination awards and sporting testimonials
• Employment allowance increase
• New NICs rates and thresholds
• New ISA and CTF limits
• ATT calls for clarification on homeworking expense exemption
• CIOT updates guidance on offshore disclosures
• Negligible value securities: Conviviality plc
• Consultation on plastic packaging tax policy design
• Consultation on duty-free and tax-free goods carried by passengers
• Partial exemption special methods for housing associations
• Gibraltar tax treaty
• HMRC late payment interest rates to fall
• GAAR panel opinion on losses involving currency forward purchase contracts
• HMRC guidance: 18 March 2020
• HMRC manual tracker

Cases

• A Davies v HMRC
• P Higgs and Others v HMRC
• D Moulsdale t/a Moulsdale Properties v HMRC
• San Domenico Vetraria SpA v Agenzia delle Entrate, Ministero dell’Economia e delle Finanze
• Pensfold v HMRC
• Other cases that caught our eye: 18 March 2020

One minute with

• One minute with… Valentina Sloane QC