TAX POLICY

Peter Cussons examines the potential EU law and international issues facing the UK's diverted profits tax.

Mark Groom and Dominic Haslam (Deloitte) look at HMRC proposals on overarching employment contracts.

The government’s new diverted profits tax (DPT), which was initially announced in December’s Autumn Statement and comes into effect on 1 April 2015, was debated in the House of Commons on 7 January 2015.

A Scottish government report published last week urged the UK government to make changes to oil and gas taxation in the 2015 Budget, which has been scheduled for 18 March.

The Revenue Scotland and Tax Powers Act 2014 (Commencement No.

Devolution is being undertaken piece-meal and inconsistently, writes Lakshmi Narain

Commentary prepared by the Tolley tax team on the draft Finance Bill 2015 rules on:

• special purpose share schemes, with comment from Ashley Greenbank (Macfarlanes);
• diverted profits tax, with comment from Sandy Bhogal (Mayer Brown);
• investment managers and disguised fee income, with comment from Ben Eaton (Goodwin Procter);
• bank loss relief, with comment from Anna Anthony (EY).

Simon McKie (McKie & Co) argues why HMRC’s tax gap figures might actually have been overestimated rather than underestimated

Professor David Ulph (University of St Andrews) takes a look at possible causes and consequences of the complexity of the UK tax system

Tolley commentary on the draft tax legislation for Finance Bill 2015