Philip Hammond may have thought he was inheriting a poisoned chalice when he took over as chancellor last summer, but things have turned out better than he feared, as David Smith reports.
The Climate Change Agreements (Administration) (Amendment and Related Provision) Regulations, SI 2016/1189, increase the terms of the buy-out fee that must be included in underlying climate change agreements for target periods 3 and 4 (1 January 2017 to 31 December 2018, and 1 January 2019 to 31
The House of Lords EU internal market and external affairs sub-committees have published a report advising the government to seek a transitional trade arrangement after the UK leaves the EU, involving a temporary extension of participation in the customs union.
On 6 December, the Council of the EU adopted a directive granting tax authorities access to information held by authorities responsible for the prevention of money laundering, including the requirement for member states to provide access to information on the beneficial ownership of companies.The
Christina HJI Panayi (Queen Mary University of London) identifies the main EU tax developments in 2016, including the anti-tax avoidance package, decisions in state aid cases, the reform of corporate tax and the relaunch of the common consolidated corporate tax base.
Mark Middleditch (Allen & Overy) examines the themes that have dominated 2016 for the City, including the anti-hybrid rules brought on by the UK’s enthusiasm for BEPS, and looks at 2016’s case law, which shows that HMRC continues its run of success in defeating tax avoidance schemes.
Vinny McCullagh (Grant Thornton) reviews Heating Plumbing Supplies Ltd where the court decided that a VAT group’s activities must be taken as a whole.