HMRC published draft regulations last week to provide a further exception to the income distribution requirement for investment trust companies at regulations 19 and 21 of the Investment Trust (Approved Company) (Tax) Regulations (SI 2011/2999).
HMRC has published draft regulations to address technical issues in the operation of The Offshore Funds (Tax) Regulations 2009. “As industry is keen to have the proposed changes introduced as soon as possible, this consultation is for four weeks,” HMRC said.
Bill Cohen reviews changes to the ‘rights for shares’ rules.
David Barton sets out the key issues for advisers to consider this month.
The rules have tightened with effect from 20 March. Paula Tallon and Paul Howard explain why the new provisions may force companies to consider the true nature of transactions with their shareholders.
SI 2013/999
The April edition of HMRC’s Trusts & Estates Newsletter includes articles on the inheritance tax treatment of usufructs (right to the use and enjoyment of another’s property); changes to the 2012/13 trust and estate tax return; and dea
Firms deny ‘lack of clarity’ over where they draw the line between acceptable planning and aggressive avoidance
The G8 and EU 'must work together to ensure full transparency in beneficial ownership'
EC invites applications from organisations representing business, civil society and tax professionals