Helen Lethaby reviews the last month's developments in tax, including key measures in the Finance Bill, the new approach to tackling tax avoidance, and recent case law
Tax avoidance is legal but ‘is it fair, or even moral?’ asked Clive Anderson, the broadcaster and former barrister, as he introduced a panel of tax law specialists on the BBC’s Unreliable Evidence programme, broa
The government is to close with effect from 6 April 2011 an ‘unintended tax loophole’ for UK residents transferring pension savings overseas, the Treasury announced.
Revenue & Customs Brief 18/11 sets out HMRC's current view on inheritance tax issues associated with employee benefit trusts. It ‘supersedes and amplifies’ Revenue & Customs Brief 61/09.
Tax professionals have found a good deal to be positive about in a paper setting out the government’s strategy for tackling tax avoidance – an issue that seems set to assume an even higher profile than it has in recent months.
HMRC published four sets of draft legislation and explanatory notes alongside last week’s Budget:
HMRC have published a reminder that the disclosure regime for avoidance schemes is extended with effect from 6 April to require the disclosure of inheritance tax arrangements that seek to avoid IHT charges associated with transfers of property into trust.
The government’s efforts to tackle tax avoidance are ‘quite understandable’ but evasion and other criminal activity have a ‘far greater’ impact than legal avoidance, tax experts said in response to a new paper setting out the government’s anti-avoidance strategy.
MPs have welcomed ‘good progress’ in HMRC’s investigation work but called for improved performance and strong leadership to boost low staff morale.
The European Commission has proposed an optional ‘one-stop-shop’ system allowing companies to consolidate all profits and losses arising across the EU and file a single tax return.