Sarah Nicholson answers a query on the impact of the proposed measures on share option gains
The ICAEW Tax Faculty has expressed support for the recently launched Fair Tax Mark (FTM) (see last week’s Tax Journal, page 8), saying it is ‘an initiative we are right behind’. The announcement was posted on the ICAEW’s website and has met with a mixed reaction from members.
HMRC has published draft legislation amending FA 2007 s 107.
Revenue & Customs Brief 09/14 explains that bitcoin is the world’s first decentralised digital currency, known as ‘cryptocurrency’. Bitcoin works via a peer to peer independent network which manages all functions such as issue, transaction processing and verification.
Where loans are written off or provided for in the accounts of the lender, or released and written back in the accounts of the borrower, there can be exceptions to the basic rule on the tax treatment of loan relationships. Paul Howard explains
After 11 years of litigation, the Supreme Court has held that a claimant can make successive claims for cross-border group relief as long as they are not time barred. Simon Whitehead and Rachel Garwood review the decision and examine the implications
The guidance was reissued on 20 February 2014 and applies from 4 November 2013. It has been updated to reflect legislative changes, in particular in relation to the employment and confidentiality hallmarks and the extension of DOTAS to the new annual tax on enveloped dwellings (ATED).
The First-tier Tribunal has quashed a disclosed tax avoidance scheme which sought to generate significant losses.
Draft legislation for the new social investment tax relief was published on 10 December 2013 and revised on 14 February 2014. The rate of the relief and limits on investment will be announced at Budget 2014 and take effect from 6 April 2014.
The Financial Times has reported (24 February 2014) that HM Revenue & Customs is challenging some of the UK’s biggest businesses over their accounting policies as it steps up its investigations into the potential underpayment of hundreds of millions of pounds of tax.