Jonathan Peacock QC and Michael Ripley consider what significance lies in a contention that ‘money goes around in a circle’ after the decision in Tower MCashback and identify what exactly was decided in Ensign Tankers, MacNiven and BMBF v Mawson in this regard
Ian Sandles examines the impact of the new rules on the financial sector
Helen Lethaby provides this month's update on tax issues affecting the City, including consultation resulting from Basel III, recent accounting changes, the overlooked decision in Audley and an update on the GAAR study
HMRC are offering employers who have utilised Employee Benefit Trusts and similar arrangements the opportunity to resolve outstanding enquiries without recourse to litigation. Adam Craggs considers whether employers should take up this opportunity.
The drive for individuals to provide services through intermediaries comes from a number of different parties including employers, end clients and employment agencies, members of the IR35 Forum noted at the Forum’s inaugural meeting.
HMRC have invited comments by 31 August 2011 on:
Proposals to counter the marketing and use of ‘high risk’ tax avoidance schemes – still used by a small but significant number of taxpayers, according to HMRC – are set out in a new consultation document.
Chris Bates and Judy Harrison provide your detailed review of the Supreme Court decision. Plus further insight from Giles Goodfellow QC, Rupert Shiers, Bill Dodwell and Jason Collins
HMRC are inviting comments by 1 June on draft anti-avoidance legislation to provide that certain foreign pensions paid to UK residents may be taxed in the UK.