Finance Bill 2012 will amend the settlements legislation to close an avoidance scheme involving corporate settlors. The purpose of the changes is to confirm that ‘income arising under a settlement is treated as that of the settlor only where the settlor is an individual’.
The Finance Bill will amend the SDLT rules on a transfer of rights (or sub-sale) ‘so that the grant or assignment of an option cannot be a transfer of rights’.
Finance Bill 2012 will amend ITTOIA 2005 s 168 to deny an income tax or corporation tax deduction being given where a payment ‘arises from avoidance arrangements’.
Finance Bill 2012 will contain anti-forestalling legislation to ensure that changes announced in the Budget to the VAT liability of (a) supplies of self storage facilities and (b) supplies of services and materials in connection with approved alterations of protected buildings are ‘fully effectiv
‘I regard tax evasion and indeed aggressive tax avoidance as mo
Putting homes into companies to avoid stamp duty is ‘completely
New legislation to block a ‘contrived and aggressive’ income tax avoidance scheme involving property business loss relief will protect the Exchequer from significant losses, HM Treasury said.
The Chartered Institute of Taxation has raised with HMRC several concerns regarding draft legislation designed to counter a tax avoidance scheme, disclosed by Barclays, which sought to avoid the charge on ‘deemed releases’ of loan relationships.
Should publicly listed companies continue to enjoy full confidentiality in respect of their tax affairs?
Helen Lethaby provides your monthly update, which includes coverage of the government’s action to close down ‘abusive’ debt buyback planning retrospectively and the appointment of the new Assurance Commissioner to oversee large tax settlements.