The case of Terrace Hill (Berkeley) Ltd provides a further insight into the distinction between trading and investment.
Tax avoidance scheme involving loan arrangement
Tax avoidance scheme worked
OUR PICK OF THIS WEEK'S CASES
Setting off losses on a trade succession
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According to HMRC statistics released last week, HMRC recovered £1.1bn tax from transfer pricing enquiries during 2013/14, which HMRC said was double the tax take of the previous year.
The PAC continued its inquiry over the role of HSBC’s private Swiss bank in facilitating tax avoidance and evasion with a heated two-hour hearing on Monday 9 March.
The Companies Act 2006 (Amendment of Part 17) Regulations, SI 2015/472, amend the Companies Act to prevent the use of share cancellations by target companies in takeovers conducted using schemes of arrangement.
With effect from 6 April 2015, the following come into force:
The Authorised Investment Funds (Tax) (Amendment) Regulations, SI 2015/485, remove an existing restriction which prevents authorised investment funds (AIFs) from making interest distributions where the fund receives property income.