Wendy Walton reviews topical issues, including the new annual charge on UK residential property.
More than 2,400 people have registered to disclose unpaid tax under the Liechtenstein Disclosure Facility (LDF), HMRC announced. The LDF is now expected to bring in ‘up to £3bn’ by 2016.
HMRC has invited comments by 10 July on draft regulations relating to the business investment relief, including in the current Finance Bill, for remittances made for investment purposes.
Five thousand homes, each worth more than £2m, are held through corporate structures that allow the owners to avoid UK taxes, according to unpublished government estimates obtained by Exaro.
The government has received EC state aid approval for changes announced at Budget 2012 to the Enterprise Investment Scheme and the Venture Capital Trust scheme, increasing:
Helen Lethaby provides your regular update, which this month includes coverage of developments concerning the FII group litigation, unauthorised unit trusts and the decision in Santander.
The government is consulting on a new annual charge on residential properties valued over £2m owned by certain ‘non-natural’ persons, and a proposed extension of capital gains tax to the disposal by non-resident, non-natural persons of residential property for more than £2m.
The proposed cap on ‘unlimited tax reliefs’ will not apply to donations to charity, George Osborne has announced.
More than half of taxpayers do not know how much income tax and NICs they pay in a year, HM Treasury said as it announced the launch of a new tax calculator on Monday.
David Barton identifies this month's key tax issues for advisers.