On 17 September, a Public Bill Committee agreed amendments to clause 9, increasing the IHT nil-rate band for main residences passed to direct descendants, with amendments clarify the types of trust through which property may be treated as inherited, and the definition of ‘closely inherited’.
MPs considered the Finance Bill in a Committee of the whole House on Tuesday 8 September 2015.
These amending regulations increase the amount of the payments which are required in lieu of training and are payable to the Maritime Training Trust.
A survey conducted by Christian Aid suggests that a large majority of FTSE companies would not actively oppose the introduction of a legal requirement for them to make their country by country reports public, while some would actively support it.
The Financial Times reported (7 September 2015) that the CBI has criticised the lack of consultation over corporate tax changes introduced in George Osborne’s July Budget announcement, and that the government should show ‘renewed discipline’ in making tax policy.
Freedom of establishment and dividends
CIS and territoriality
Mark Middleditch (Allen & Overy) reviews the latest tax developments that matter, including withholding tax consultation, regulatory capital, changes to DOTAS, and penalties for the GAAR.
The Australian Senate has published an interim report following five public hearings into international corporate tax and GST (VAT) issues. The report makes 17 recommendations over four areas: