The Department for Business, Energy and Industrial Strategy (BEIS) has issued a call for evidence on the use of limited partnerships in Scotland, in response to concerns that some limited partnerships in Scotland are being used for criminal activity. BEIS is seeking views on:
HMRC has updated the list of VAT cases for which it has taken a decision about whether or not to appeal, up to and including 16 December 2016 (see http://bit.ly/1IyhEkv).
Starting in January, taxpayers calling HMRC’s tax credits and self-assessment helplines will be able to enrol for voice identification. The first time they call, a customer will be asked to repeat a vocal passphrase up to five times and then be passed back to an adviser to complete their call.
The new double taxation convention between Turkmenistan and the UK, signed on 10 June 2016, which replaces the 1985 UK/USSR convention, entered into force on 19 December 2016. The convention takes effect in Turkmenistan from 1 January 2017.
The new UK/UAE double taxation convention, signed in April 2016, entered into force on 25 December 2016. The convention takes effect for taxes in the UK and UAE from 1 January 2017.
The joint IMF, OECD, UN and World Bank Group ‘platform for collaboration on tax’ has developed a draft toolkit designed to assist developing countries with transfer pricing.
The Law Society has announced that firms which advise clients on the establishment of offshore companies or trusts may shortly receive a letter from HMRC seeking information about beneficial ownership or interests.
HMRC has increased the number of staff in its affluent unit by 20% over the last year, from 327 to 395, according to accountancy firm Moore Stephens. The unit was founded in 2011 to investigate the tax affairs of UK residents with an annual income of over £150,000, or a net worth of £1m.