HMRC are seeking views on possible changes to rules that determine how non-arm's length sales of gas are valued for the purposes of the North Sea fiscal regime.
Responses to consultation sent a ‘strong message’ that applying the proposed tax exemption for overseas branch profits to all territories, and the inclusion of chargeable gains, would enhance the competitiveness of the UK regime, HM Treasury said.
The release of the Vickers report on the future of the UK banking industry makes it opportune to make a few observations on the current taxation policy for the banking sector.
Chris Morgan provides your monthly update
Andrew Goodall reports on growing support for the idea of a tax on financial transactions
The Court of Appeal took a purposive approach to interpreting the UK/US double tax treaty in Bayfine UK. Ed Denny and Adam Willman consider the implications of the decision
Mike Lomax examines the new approach to tax policy making set out in the Tax Consultation Framework