Icebreaker scheme fails
HMRC has published guidance on the new anti-avoidance measure introduced by Finance Bill 2014, which prevents non-trading finance profits of a CFC from being regarded as a qualifying loan relationship where an arrangement to transfer profits out of the UK exists.
Availability of partnership losses to individual partners
BKL Tax looks at the case of Horner, where the taxpayer sought damages from the promoters of a failed tax avoidance scheme
HMRC needs to do more to demonstrate that the revenue protection it claims for the IR35 legislation outweighs the costs it imposes, says the House of Lords Select Committee on Personal Service Companies in a recently published report
HM Treasury has announced that it will introduce a targeted anti-avoidance rule (TAAR) to counter false self-employment arrangements in relation to NIC ‘at the next available legislative opportunity’, with retrospective effect from 6 April 2014.
Draft legislation has been published which is intended to ensure that more of the profits made by offshore contractors in the UK are subject to UK tax.
HMRC has published a summary of more than 840 responses received to its consultation Tackling marketed tax avoidance, which closed on 24 February 2014.