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.
Scheme involving derivatives
Cross-border group relief
Sara Luder reviews the proposed changes that will ease the rules restricting the availability of relief for corporation tax losses when companies change ownership
Jane McCormick asks the fundamental question: would the provision of additional tax data solve the issue of perceived tax avoidance by multinationals?
Heather Self reflects on the relauched 'fair tax mark', and asks whether it is now time for a kitemark for responsible tax advisers.
On 18 February, the Economic and Financial Affairs Council discussed the proposal for an EU-11 financial transaction tax (FTT).
The Financial Times reported (17 February 2014) that Rupert Murdoch’s News Corp has been paid $882m by Australia’s tax authorities, following its victory in a legal battle over A$2bn in foreign exchanges losses that dates back to 1989.
Paul Radcliffe comments on the forthcoming global FATCA-like regime.