The government has tabled five amendments to Schedule 28 of Finance Bill 2013 (Close companies), which aim to ensure the new close company loans to participator rules will apply where a repayment is replaced by a further chargeable payment in a very short period of time, or under arrangements to
At the annual OECD conference in Washington DC earlier this month, developments with respect to the OECD’s project on base erosion and profit shifting (BEPS) were discussed. According to Ernst & Young, the key issues discussed during the conference included the following points:
Reed Carey highlights an issue that has sparked calls for reform of US international tax rules
US to crack down on virtual currency tax fraud: ‘US officials are targeting virtual currencies due to fears that Americans are using them to evade taxes, opening a new front in the crackdown on tax fraud.
The government has published details on tax relief for social investment which was announced in the Budget. The consultation was launched at the G8 Social Impact Investment Forum in London, and closes for comment on 6 September 2013.
Draft legislation to be introduced to the Finance Bill 2013 will confirm gas and electricity distribution companies cannot claim tax relief for costs already paid for by business customers.
HMRC has issued draft regulations, which propose changes to the corporate tax rules in relation to exchange gains and losses applying when assets being disposed of are matched by a hedging instrument.
HMRC is seeking comments on the governance process around determining non-compliance with the code of practice for taxation for banks, and the nature of the report to be published by HMRC.
US giants can indeed claim not to be taxable on the full amount of UK sales, says Lydia Challen
David Boneham and Lara Okukenu look ahead to new frameworks sanctioned by FRS 100