The CIOT and ATT have opposed HMRC’s proposal to require businesses and employers to pay VAT and PAYE return liabilities by direct debit. The CIOT considers that payment methods should remain a matter of choice. The ATT says most taxpayers already pay the correct amount on time and...
The CIOT broadly supports standardised ICTS reporting to improve HMRC’s transfer pricing risk assessment and welcomes the more proportionate reporting template. However it calls for clearer regulations and guidance closer alignment with existing transfer pricing documentation and exemptions where HMRC already hold the information or compliance costs would...
Draft legislation generally excludes partnership interests from the new securities transfer tax subject to a targeted anti-avoidance rule for arrangements involving underlying chargeable securities.
An obligation to correct tax return inaccuracies is coming. Rob Sharpe and Peter North (Cleary Gottlieb) examine the mechanics and some interpretative uncertainties.
