According to the latest KPMG tax competitiveness report, the UK has lost ground in both tax competitiveness and as an attractive destination for foreign direct investment, largely as a result of Brexit uncertainty.
HMRC is consulting until 26 May 2017 on the draft Corporate Interest Restriction (Financial Statements: Group Mismatches) Regulations 2017, which address two situations where accounting differences between the entity and group level could affect application of the new corporate interest restricti
HMRC has published the summary of responses and updated draft guidance following its consultation on the hybrids mismatch legislation published in December.
The Legislative Reform (Private Fund Limited Partnerships) Order, SI 2017/514, introduces a new type of partnership structure, the private fund limited partnership, from 6 April 2017.
Google is still ‘paying a rate of tax that belies its significant presence and business transactions in the UK’, said Meg Hillier, chair of the House of Commons public accounts committee in a statement on publication of Google’s latest set of UK accounts.
The Finance Act 2015, Section 54(3) (Appointed Day) Regulations, SI 2017/494, bring into force from 1 April 2017 the new provisions of the Alcoholic Liquor Duties Act 1979 which make it an offence for traders in alcohol to buy from wholesalers who have not been approved under HMRC's alcohol whole
The Taxes (Base Erosion and Profit Shifting) (Country-by-Country Reporting) (Amendment) Regulations, SI 2017/497, extend the country-by-country reporting obligations to include partnerships which are parent entities of multinational groups.
The OECD has published a new report, Technology tools to tackle tax evasion and tax fraud, which examines the experience of tax administrations in 21 countries in using technology to prevent, identify and tackle tax evasion and tax fraud.
The Jersey taxes office is consulting on proposed new financial penalties. Measures being considered include:
The Finance Bill 2017 (FB 2017) is due to begin its committee stage in the House of Commons on 24 April 2017, following completion of the second which is due to begin on 18 April 2017.