Issue 1496

Analysis

• Temporary tax cuts now may give way to tax hikes later
• Private client review for July 2020
• The taxation of structured finance transactions
• IR35: why (and when) mutuality of obligation matters
• UK/EU tax and customs negotiations: where are we now?

In brief

• EU watch: article 116
• DAC 6: HMRC’s guidance
• Tyrwhitt: NICs on payments to ex-employees

News

• Tax gap falls to lowest recorded rate
• HMRC acts on suspected furlough fraud
• General Court finds against Commission in Apple case
• Tax treatment of employee covid tests
• Eat out scheme
• Latest on the coronavirus support schemes
• Deferral of payments on account
• Bank levy consultation
• Capital gains tax consultation
• CGT: gilt-edged securities
• Further detail on temporary VAT cut
• VAT: temporary zero-rating of PPE
• Imports and exports from January 2021
• Customs charges on rejected imports
• Consultation on red diesel
• SDLT temporary reduced rates
• Scotland: land and buildings transaction tax
• Wales: land transaction tax
• DAC 6 reporting deadlines
• L-day 2021 next Tuesday
• Finance Bill 2020 nears completion
• Consultation on EU case law from 2021
• OBR fiscal report
• HMRC manual update: 13 July 2020

Cases

• Dunsby v HMRC
• Royal Bank of Canada v HMRC
• HF v Finanzamt Bad Neuenahr-Ahrweiler
• Ashbolt and another v HMRC and another
• Other cases that caught our eye: 15 July 2020

One minute with

• One minute with... Gerald Montagu

Practice guides

• The taxation of structured finance transactions