Richard Jeens (Slaughter and May) considers the additional pressures on tax authorities to tackle evasion and avoidance, and how this promises not only more, but more intense tax enquiries and litigation for taxpayers; as well as identifying new tools added to HMRC’s repertoire, such as the new partial closure notice provisions.
When is a loss final?
Income or capital receipt?
Scope of a closure notice
Late appeal
Reasonable excuse?
The Scotland Act 2016 (Commencement No 2) Regulations, SI 2016/1161, brings into force on 30 November 2016 the power contained in Scotland Act 2016 s13 for the Scottish Parliament to set different rates of income tax for Scottish taxpayers.
HM Treasury has published its draft updated ‘charter for budget responsibility’, which includes the new fiscal mandate for the period until 2020/21 and changes regarding the operation of the welfare cap following Autumn Statement 2016.