TAX POLICY

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

The Taxation (International and Other Provisions) Act 2010 (Amendment to Section 371RE) (Controlled Foreign Companies) Regulations, SI 2014/3237, come into force on 31 December 2014.

HMRC moving in right direction, says stakeholder report, while IFS scrutinises publishes discussion papers on HMRC's discretionary powers and the role of the OTS

George Osborne’s Autumn Statement contained good and bad news on the deficit but the underlying message is that the public finances are still a long way from being fixed, David Smith reports

The following measures, announced at last week’s Autumn Statement, take place with immediate effect:

Chris Sanger (EY) examines the smorgasbord of tax measures announced this week