To anyone involved in the infrastructure sector, action point four of the OECD’s BEPS project – to ‘limit base erosion via interest deductions and other financial payments’ – is bad news for highly geared projects, writes Eloise Walker (Pinsent Masons)
HMRC is sending personal tax summaries for the 2013/14 tax year to around 16m taxpayers whose tax affairs for that year are finalised. A further 8m taxpayers who complete a self-assessment tax return will be able to view their summary online.
The ICAEW gave evidence to the Treasury Select Committee last week on the economic and fiscal consequences of further tax devolution to Scotland.
The Charity Tax Group (CTG) has urged the government to use the forthcoming Autumn Statement to resolve a number of outstanding technical and practical difficulties charities currently face with the tax system. It calls for:
Heather Self (Pinsent Masons) asks if this the end for the ‘double Irish’ structure
The Scottish government is consulting until 9 January 2015 (31 October 2014 in one instance) on draft Scottish statutory instruments giving effect to a range of powers contained in the Revenue Scotland and Tax Powers Act 2014, which received royal assent on 24 September 2014.
HMRC has issued Revenue & Customs Brief 35/2014: Lok'nStore Group plc decision on calculating deductible VAT, which states that HMRC is not appealing the Upper Tribunal decision in favour of Lok’nStore Group plc’s partial exemption special method for apportioning residual input VAT o
The Scottish government has announced rates for the new land and buildings transaction tax (LBTT), which is to replace stamp duty land tax (SDLT), in its draft Scottish Budget for 2015/16. The nil rate applies up to £135,000, rising to 12% on transactions over £1,000,000.
The Taxation of Pensions Bill was introduced in the House of Commons on 14 October 2014.
The government will publish draft clauses to be included in Finance Bill 2015 on Wednesday 10 December 2014, in the week following the Autumn Statement. Consultation on this draft legislation will run until 4 February 2015.